Insights on SEPA

| Point of View

A study on the impact of SEPA on the payments market and its stakeholders as prepared for the European Commission

The creation of a Single Euro Payments Area (SEPA) is currently a hot topic for companies in the euro zone, but its foundation started already in 1966 when the European Commission expert group published the “The Development of a European Capital Market” report that stressed the need for convergence and harmonization in financial regulation.

The SEPA initiative aims to create a standardized payments market throughout the euro zone. SEPA’s overall goal is to create a more competitive and transparent European economy, which it will accomplish by standardizing the rights and obligations of EU payments services providers and users, and establishing a set of open and common industry payments standards across the SEPA region.