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The Implications of the French Delaying the Launch of SEPA Direct DebitProduct Type: Market Research ReportPublished by: TowerGroup Published: June 2009 Product Code: R301-1648 Description The April 2009 announcement by the French National SEPA Committee, La Federation Bancaire Francaise, and Banque De France regarding the Single Euro Payment Area (SEPA) is an important indication that SEPA is changing European payments. The joint announcement that the launch of SEPA Direct Debit (SDD) would be delayed in France calls attention to a number of issues that have yet to be addressed satisfactorily. Since France is the largest payments market in Europe, the delay entails a number of implications, not all negative, not just for the French market, but for all those involved in SEPA. The delay gains significance in light of various announcements by the European Commission regarding interchange, SDD interchange, and the extension of Regulation 2560. The key issue stems from the decision by the European Central Bank (ECB) that interchange is not applicable for direct debit, which affects not just SEPA direct debit but a number of existing national direct debits schemes. The solution must lie in compromise that recognizes that to drive demand, both banks and corporate must benefit. Table of Contents
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