As uncertainties in the eurozone persist, the financial services industry is devoting significant resources to planning for possible market events. In parallel, the industry is preparing for migration to SEPA (Single Euro Payments Area), which needs to occur by February 1, 2014. SEPA will change the eurozone’s low-value payments and collections landscape by harmonizing the way banks make and process low-value euro payments in the 17 euro countries under a single set of SEPA Credit Transfer and SEPA Direct Debit scheme rules.
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