Commission announces roadmap to SEPA

The European Commission has adopted a Communication on the 10 September 2009 called 'Completing SEPA: a Roadmap for 2009-2012' in response to the Communication on 'Driving European recovery' ( IP/09/351 ).

The Single Euro Payment Area, or SEPA, is an initiative of European banking and aims at creating an integrated market for electronic payment services in euros, with harmonised sets of business rules and technical standards. With these new European payments, consumers, companies, merchants and public administrations will be able to make payments under the same conditions throughout Europe as easily as within their own country.

The Communication provides a framework for action within six priority areas where greater involvement of all relevant actors is required in order to achieve the full implementation of the Single Euro Payments Area (SEPA).

• Primary Source

European Commission: DG Internal Market and Services: Payment Services: Single Euro Payments Area (SEPA) http://ec.europa.eu/internal_market/payments/sepa/index_en.htm

European Commission: Press Release: IP/09/1296: Single Euro Payments Area: Commission presents actions to make SEPA a success http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/1296&format=DOC&aged=0&language=EN&guiLanguage=en

EurActiv, 29.10.09: Banks not buying in to Single Payments Area http://www.euractiv.com/en/financial-services/banks-buying-single-payments-area/article-186851

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