Product Type: Market Research Report
Published by: TowerGroup
Published: May 2005
Product Code: R301-934Description The financial institutions across the euro area all handle domestic retail payments and cross-border retail payments differently. Service differs too, with cross-border payments generally taking longer to process, historically being more expensive, and requiring greater involvement by the end customer. The Single Euro Payments Area (SEPA) project seeks to fix all this. This TowerGroup Research Note elaborates on the SEPA vision by analyzing the progress toward SEPA in each major payment instrument and providing a view of the road ahead.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Introduction
- SEPA: The End Goal
- Greater Efficiencies, Increased Automation
- Emergence of Cross-Border ACH Services
- Gradual Elimination of Checks
- Cashless Payment Instruments
- Credit Transfers
- Exhibit 1: Retail Payment Systems in Use in the Euro Area (2005)
- Exhibit 2: Number of Banks Subscribing to Credeuro (Late 2004)
- Exhibit 3: Time Line for Credit Transfers: Progress Toward SEPA (2002-10)
- Direct Debits
- Exhibit 4: Time Line for Direct Debits: Progress Toward SEPA (2003-10)
- Cards
- Exhibit 5: Time Line for Cards: Progress Toward SEPA (2002-10)
- Summary
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