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Who will benefit, and how?

Consumers

  • Consumers will be able to reach all accounts SEPA-wide from one home country account. More widely accepted payments cards will displace cash improving customer safety and security.

SMEs

Merchants

  • Merchants will be able to accept payment cards from all SEPA countries and back office processes will be simplified.

Corporates

  • For large merchants and corporates, common standards enable the construction of one standard platform for payments in the whole SEPA resulting in major savings. For example, one single file in a common format could be used to receive and send payments throughout SEPA.

Public administrations

  • For governments and public administrations, common schemes and standards will enable the delivery of improved services to citizens at home and abroad. It will also facilitate the delivery of transaction-related e-Government services.

Banks

  • Banks will have opportunities to develop innovative products, enter new markets and win new customers as well as increase the efficiency of back office processes.

Payment sector suppliers

  • The payment sector suppliers will have an opportunity to develop low cost new technology products and services which will serve the single euro market.