European payments industry looks to SEPA

The Single Euro Payments Area is hearalded as the best shot at a common payments platform.

Developing a common platform for the European payments world has been attempted on several occasions and has routinely failed to maximize efficiencies in cross-border transactions. Squabbling between the European Payments Council, national banks and the European Commission has created a dead lock on the issue of how to handle cross-border payments.

However, with the implementation of the Single Euro Payments Area SEPA, an efficient and workable platform for cross-border payments may become a reality, despite...

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