Last January, the first stage of the Single Euro Payments Area (SEPA) was implemented, with the possibility to conduct credit transfers within the framework of this Area. The developments that we will witness in the coming years should lead to a situation whereby every client should be able to make non-cash euro payments to somebody else in the Eurozone, simply by using one bank account and one payment instrument. In simpler terms, payments to an account holder based in any other part of the SEPA may be effected with the same ease as those in your home State.
The process to get there is extensive and lengthy – the various processes and payment instruments currently available must be made to correspond with each other. For example, a debit card related to your normal bank account must be accepted everywhere, which means that all cards and payment terminals currently on the market must conform to the SEPA requirements.
Although this is a European banking industry initiative, the European Central Bank is an important catalyst in the process and is trying to ensure that the system is in the best interests of the clients – as it was intended. For this purpose, a survey has been prepared for the purpose of determining the extent to which companies are aware of and ready for this development. It must be ensured that the series of products related to SEPA will meet the needs of their users. The consultation period has now come to an end and the results will soon be issued.
Source: Focus @ MEUSAC
16 October 2025
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