The Single European Payments Area Sepa
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The Single Euro Payments Area Sepa
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Author :
language : en
Publisher:
Release Date : 2009
The Single Euro Payments Area Sepa written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Electronic funds transfers categories.
The Guide To Single Euro Payments Area
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Author :
language : en
Publisher:
Release Date : 2006
The Guide To Single Euro Payments Area written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Cash management categories.
The Future Of Finance After Sepa
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Author : Chris Skinner
language : en
Publisher: John Wiley & Sons
Release Date : 2008-05-05
The Future Of Finance After Sepa written by Chris Skinner and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-05-05 with Business & Economics categories.
SEPA was created by Europe’s banks in 2002 in response to regulations and plans drawn up by the European Commission from a meeting in Lisbon at the turn of the millennium. Consequently, SEPA has been assisted by new legislation, the PSD, which was agreed in 2007. The implementation of SEPA takes place in 2008 within the banking industry, with full operation in 2010, and will be a massive change to not just banking, but all aspects of finance and financial services across Europe and the globe. This is because the vision for SEPA is that, by 2010, all euro payments are treated in the same way as domestic payments. In other words, European citizens and corporations enjoy a transparent market where there is no difference in charges for payments between Rome, Madrid, Paris and Munich. As a result, citizens, governments and corporations will have full access to finance transparently across 15 countries today and potentially 31 tomorrow. A United States of Europe, fuelled by fully integrated financing, will be different to the fragmented Europe of the past. This book reviews the key implications and challenges of SEPA and the PSD across the European landscape, and the likely outcomes of SEPA for 2010 and beyond. The main themes that emerge are that many of Europe’s leading providers of payments infrastructures, which are often bankowned, will disappear and new payments providers and structures will emerge. Some of these will be evolutions and some will be revolutions. In addition, there will be major impacts upon those banks that cannot provide euro-services competitively in this new geographically competitive environment. The winners will reap major rewards, but there will be far more losers who will be merged or acquired. With contributions from leading authorities, including: • Anthony Kirby, the Reference Data User Group • Ashley Dowson, the SEPA Consultancy • Bo Harald, TietoEnator • Bodil Nelsson and Mats Wallén, Bankgirocentralen • Brenda O’Connell, Bank of Ireland • Chris Pickles, BT • Chris Skinner, the Financial Services Club and Balatro • Daniel Szmukler, EBA CLEARING • Daniele Danese, Banca Popolare di Verona • David Doyle, EU Policy Advisor on Financial Markets • Doctor John Ryan, CASS Business School • Erkki Poutiainen, Nordea • Eva King, the European Commission • Geoffroy de Schrevel, SWIFT • Gerard Hartsink, the European Payments Council • Gianfranco Tabasso, the European Association of Corporate Treasurers • Harry Leinonen, the Bank of Finland • Heiko Schmiedel, the European Central Bank • Henrik Parl, Eurogiro • Hervé Postic, founder, UTSIT • James Barclay, JPMorgan Chase • John Bullard, IdenTrust • John Chaplin, First Data • Jonathan Williams, Eiger • Juergen Weiss, Gartner • Mark Hale, Barclays Bank • Neil Burton, IBM • Nick Senechal, VocaLink • René Pelegero, PayPal • Richard Spong, Sterling Commerce • Robert Bradfield, Ernst & Young • Ruth Wandhöfer, Citi • Sean Fitzgerald, Sentinel • Sharon Bowles, Member of the European Parliament • Tom Buschman, TWIST
The Single Payments Area In Europe
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Author : Agnieszka Janczuk-Gorywoda
language : en
Publisher:
Release Date : 2015
The Single Payments Area In Europe written by Agnieszka Janczuk-Gorywoda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Recent legislative developments in the field of payment services in the European Union aim at building a uniform European payments market. The creation of an internal market for payments has been the result of both industry self-regulation and public regulation. The Payment Services Directive (PSD) and Regulation 924/2009 support and complement the private regulatory regime developed by the banking sector's European Payments Council, the Single Euro Payments Area (SEPA). The PSD provides a legal framework for SEPA by harmonizing certain core payments provisions, while Regulation 924/2009 substantially enabled the launch of SEPA Direct Debit by laying down the principle of “reachability” for cross-border direct debit payments and by regulating multilateral interchange fees in direct debit transactions. This Note describes in further detail the PSD, Regulation 924/2009, and their relation to SEPA.
The Single Euro Payments Area
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Author :
language : en
Publisher:
Release Date : 2006
The Single Euro Payments Area written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Eu Payments Integration
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Author : Ruth Wandhöfer
language : en
Publisher: Springer
Release Date : 2010-10-01
Eu Payments Integration written by Ruth Wandhöfer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-01 with Business & Economics categories.
An inside view of the forces which shaped SEPA and the PSD written from the unique perspective of someone closely involved throughout the process. It uncovers the strategic, legal and practical implications of the full harmonization agenda and provides an assessment of where these initiatives stand today, including key lessons learned.
The Economic Impact Of The Single Euro Payments Area
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Author : Heiko Schmiedel
language : en
Publisher:
Release Date : 2007
The Economic Impact Of The Single Euro Payments Area written by Heiko Schmiedel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
With the realisation of the Single Euro Payments Area (SEPA), there will be no difference in the euro area between national and cross-border retail payments. SEPA is aimed at fostering competition and innovation, and improving conditions for customers. This requires concerted efforts from various stakeholders, inparticular the banking industry, to align national practices. The Eurosystem strongly supports the SEPA project. In its catalyst role, the European Central Bank (ECB) closely monitors and assesses the overall development of SEPA. Against this background, the ECB has carried out in cooperation with the banking industry a SEPA impact study with the aim of enriching its understanding of the potential economic consequences of SEPA. Based on the quantitative and qualitative expectations of major pan-European banks, the study finds that the overall financial impact for the banking industry varies according to different scenarios of the SEPA project. The coexistence of national and SEPA retail payment schemes is expected to lead to initial investments borne by the banks. In the longer term, banks expect to benefit from improved cost efficiency and economies of scale and scope. Furthermore, banks are expected to face downward pressure on their revenues as competition will increase across borders and as a result of new market entrants. The findings of the study confirm the view thata dual SEPA implementation phase should be as short as possible. In fact, a longer migration period would give rise to higher costs than a shorter period. It can furthermore be concluded that those institutions that embrace new technological developments, create new businesses and provide innovative services are likely to gain most from SEPA.
The Single European Payments Area Sepa
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Author : Walter W. Eubanks
language : en
Publisher:
Release Date : 2008
The Single European Payments Area Sepa written by Walter W. Eubanks and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Banks and banking categories.
The Single European Payments Area Sepa
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Author :
language : en
Publisher:
Release Date : 2007
The Single European Payments Area Sepa written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
The Single European Payments Area (SEPA) is a planned electronic payments system that upon completion in 2010 would allow individuals, small- and mediumsized businesses, and corporations to make electronic payments throughout the European Union as efficiently and safely as such payments are being made on the national level today. However, the implementation process has been plagued with delays. The most recent delay occurred on December 12, 2006, when a vote on the Payment Services Directive was scheduled to be taken. But unresolved regulatory policy issues among member states prevented it from happening. One reason for the delay is pressure from European bankers who are uncertain about their ability to profitably recoup their costs once the system is constructed. The legislative status of the directive is that the President of the European Council is re-drafting it and between July 12 and September 12, 2007, a vote should be taken in the Plenary Committee of the European Parliament. Congress is interested in SEPA because it has been monitoring the European Union's effort to unify its 27 member countries' financial markets. Congress recognizes that upon implementation of these efforts, such as the EU Financial Services Action Plan (FSAP), the Financial Conglomerate Directive (FCD), and now the Payment Services Directive (PSD), American firms doing business with the European Union could be significantly impacted. The European payments systems are extremely fragmented. There are 27 national systems governed by national and local laws and practices. On average, the cost of making payments in the EU remains relatively expensive, even though more less-expensive electronic payments are being made, replacing the more costly cash and paper-check payments. European payment services costs include the inefficiencies caused by the use of non-standard customer interface, incompatible formats between foreign and domestic banks, and a low degree of automation in banks' internal systems. By one measure, these inefficiencies and others are estimated to cost the EU between 2% to 3% of its gross domestic product (GDP) (the EU GDP was $13.4 trillion in 2005 which would mean between $268 and $402 billion). This report presents a brief background on the efforts to create SEPA by the European government and the banking industry. It assesses the current electronic payments systems from the wholesale (large value) level and the retail (small value) level of payments. The report then examines the attempts to develop the panEuropean automated clearinghouse system (PEACH). It summarizes the provisions of the Payment Services Directive that establishes the legal and regulatory basis for SEPA. The last two sections examine the implications of SEPA for U.S. international banks and conclude with an outline of the potential advantages and disadvantages of SEPA for European and American financial services providers. This report will be updated as developments warrant.
The Single Euro Payments Area
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Author :
language : en
Publisher:
Release Date : 2013
The Single Euro Payments Area written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Banks and banking categories.
This brochure presents an overview of the SEPA project. The Eurosystem is responsible for the smooth operation of payment systems in the euro area, and therefore places particular emphasis on the realisation of SEPA in the euro area. This brochure therefore focuses mainly on the euro area.