Once upon a time, in the dim and distant past, the European Union figured out that while they do have a single currency, each country has different payment systems. This means additional costs for the consumer, less competition, less efficiency, and closed markets. So the EU decided to establish a single payments area.
So all the banks are going after this massive change in the financial markets landscape in Europe. And IBM has just launched a nice little survey on what's happening on the ground.
1 comment:
SEPA is only a single entity of what is to come in 2010.
If you have not a chance to read this yet, perhaps it will place SEPA into perspective along with the rest of the 2010 deliverables.
http://thejournal.parker-joseph.co.uk/blog/_archives/2007/8/23/3177099.html
or
http://tinyurl.com/ypfp5f
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