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By Mamadou DIALLO, Senior Consultant at Initio*, Payments and Cash management expert
The SEPA (Single Euro Payments Area) started as a banking industry initiative, led by the European Payments Council (EPC)(1) with the objective to creating payment instruments across Europe that will enable payment users to make no difference between national and cross-border payments. The two initial payment instruments have been the SEPA Credit Transfers (launched in January 2008) and the SEPA Direct Debit (launched in Nov 2009). However after three years of launch, the migration results appear to be less than expected, amongst the reasons being the lack of a clear business case and a heavy burden for Companies. For this reason, the European Commission issued a Directive (EU 260/2012...
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