The SEPA Initiative


SEPA - Mission Accomplished?

Graham Buck 26 August


Rather like many modern infrastructure projects, the single euro payments area (SEPA) is an initiative than involved major costs and schedule overruns before eventual completion. Having set 1 February this year as the deadline for European companies to complete migration and phase out old payments systems, at the eleventh hour the European Commission conceded a six-month transition period so that the many stragglers could complete their preparations. However, on August 1, SEPA finally became a reality and this week's gtnews focus asks whether its mission has been accomplished after more than a decade of preparatory work. The European Payment Council's chair, Javier Santamaria, urges companies to go beyond SEPA compliance and reap the benefits, while Edith Rigler focuses on the project's progress in Germany, Europe's largest economy. In other articles, Fundtech's Joanna Wright suggests that many of SEPA's efficiencies have still to be unlocked and Capgemini's Marco de Jon and Ernst Kokke consider what will happen when non-euro countries join the project in 2016.


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