In its quest to streamline financial markets, the European Community has created the Single Euro Payments Area (SEPA), a new set of business rules and regulations that will usher in further European integration and market efficiency in credit transfers, direct debits and card payments. Mandatory for banks by 2010, SEPA will change the way banks and their corporate customers work with each other.
SEPA is not another Y2K.
It is a long-term, strategic change that will make electronic payments more efficient and less costly for companies doing business in Europe. While SEPA is mandatory only for banks, companies will have to incorporate the changes and adapt their internal systems if they wish to continue to do business in Europe.
SEPA International is the only consultancy focused solely on SEPA’s impact on corporations.
Through experience working with banks and IT vendors, it is uniquely qualified to assist corporates as they negotiate the ins and outs of the emerging standards and the resultant products. SEPA International provides a variety of information and consulting services to help companies benefit from faster settlement, automated reconciliation with receivables and less costly electronic payment transactions, paving the way for greater business expansion across Europe.
