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By Jean-Pierre Borsa, ABBL Adviser - Payments, ICT, Security Standards
Having been successfully launched on 28 January 2008, the SEPA project is about to celebrate its fifth birthday. As a reminder, in January 2008, more than 4300 banks in 31 countries representing roughly 95 percent of payment volume in Europe took a historical first step to starting SEPA by launching the SEPA Credit Transfer Scheme (SCT) for euro payments. It is now time to accompany the banking community and, more importantly, companies in their migration from the current domiciliation system to SEPA Direct Debit. The role of the ABBL as NASO (National Adherence Support Organisation) is to coordinate the SEPA migration in Luxembourg and the challenges that lie ahead...
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