Opinion: Sepa opens borders for European money
Major project to harmonise retail payments in eurozone completed today
Today marks a major milestone in the integration of retail payments in Europe. The single euro payments area (Sepa) has been implemented for credit transfers and direct debits in the euro area. Today more than 500 million citizens and tens of thousands of businesses can make use of Sepa payment services offered by over 4,600 payment service providers. More than two billion payments will now flow monthly across the euro area in new standardised formats.
The Eurosystem, which comprises the
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