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 the amount of work it creates for concerned parties.

While it will be years before the influence of SEPA on the payments world is felt, cash management experts expect that by...

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