Title
Consultation on possible end-date(s) for SEPA migration

Policy field(s)
Internal market, Payment services

Target group(s)
All citizens and organisations were welcome to contribute to this consultation. Contributions were particularly sought from the supply side (banks, payment systems, payment industry), the demand side (corporate, SMEs, consumer organisations) of the payment market and public authorities.

Period of consultation
From 8.6.2009 to 3.8.2009

Objective of the consultation
The SEPA (Single Euro Payments Area) project holds much promise in terms of improved efficiency, dynamism and competitiveness of the European economy. Significant progress has been made since 2002, but migration to SEPA remains slow. It is therefore necessary to analyse whether some deadline(s) should be defined for the migration of corresponding legacy payment products to the new SEPA credit transfers and direct debits. Setting (a) clear deadline(s) for the migration of legacy products to SEPA products would provide certainty so that stakeholders can adopt a SEPA strategy, an adequate migration planning and allocate the necessary budgets for SEPA in the next few years. Concerns have however been expressed that more time might be needed to see how the market develops spontaneously before assessing whether there is a market failure or not.
The objective of this consultation was to get a more comprehensive view of stakeholders' positions on this issue. The consultation paper presents all the options available today regarding the definition of such (an) end-date(s) and regarding its potential practical modalities, e.g. if (an) end-date(s) is(are) seen as needed, there could be one common end-date for SCT and SDD migration or two separate end-dates; (an) end‑date(s) could be set at national level and/or at European level; it(they) could be left to self-regulation or could be set by regulation.

View the consultation document
Consultation on possible end-date(s) for SEPA migration PDF - 154 KBEnglish + Reply form (Excel) Excel - 25 KBEnglish

Contact details
Responsible service: DG Internal Market and Services, Unit H3 – Retail issues, consumer policy and payment services
E-mail: markt-sepa-consultation@ec.europa.eu
Postal address: European Commission, SPA2 4/69, BE-1049 Brussels

Number of responses received to this consultation
136 / 105

View the contributions
In the interests of transparency, organisations have been invited to provide the public with relevant information about themselves by registering in the Commission's Interest Representative Register and subscribing to its Code of Conduct. If the organisation is not registered, the submission is published separately from the registered organisations.

Results of consultation and next steps

Last update: 06-07-2011