Several aspects need to be resolved for SEPA's promises of faster, more efficient, and safer payments to be fully realized.
London, 25 November 2014 – After the August 2014 Single Euro Payments Area migration, thousands of European payment service providers and payments processors are able to offer SEPA Credit Transfer and SEPA Direct Debit services. Now, more than 2 billion payments will flow across the eurozone in new standardized formats every month. SEPA is a big achievement, but it requires further fine-tuning, and all the main stakeholders—financial institutions, payment service providers, payment processors, companies, and customers—are wondering about the value beyond SEPA migration.
Based on Aite Group interviews with several executives and payments experts, this report offers an in-depth understanding of SEPA's impact on the transaction banking and payments industry and outlines the open issues still to be solved.
This 41-page Impact Note contains 20 figures and two tables. Clients of Aite Group's Wholesale Banking & Payments service can download this report.