Ensure your Single Euro Payment Area Compliance

How to test your payment processes, infrastructure, organisation
and business goals to maximise your SEPA benefits

The aim of the Single Euro Payment Area (SEPA) is to promote easier and better commerce between the various countries of the EU and EFTA. It intends to facilitate this by making cross-border payments simpler. It is expected that, initially, it will be the larger banks that will feel the main impact of SEPA because they will bear the substantial cost involved in implementing SEPA. However, as they also earn on average about 10% to 30% of their revenues from payments, and SEPA will further encourage standardisation (which should lead to cost reduction), there are also possibilities for earning these costs back. It is expected that banks will generate less income from payments products and will have to compensate for this by attracting more payments or offering other payment services.

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