With the introduction of the Single Euro Payments Area (SEPA) in 2008, the electronic payment landscape in Europe will change. All electronic payments in euros within SEPA will be regarded as domestic payments – even if they cross national borders.
SEPA is an initiative to establish an integrated European payment landscape where euro payments are subject to a uniform set of standards, rules and conditions. The purpose of SEPA is to eliminate the national differences in payment instruments. SEPA is intended to facilitate trade and commerce and to strengthen Europe’s competitiveness.
The process of implementing the SEPA began on January 28, 2008 and will continue until the end of 2010. The fact below sheets will help you to understand SEPA and its impact.
Questions?
If you have general questions about SEPA, please contact an account manager. For questions about infrastructure, please contact Karin Iben Winding, SEPA Coordinator, at kwi@danskebank.dk.
More information is also available at www.europeanpaymentscouncil.eu (new window).