Sepa in trouble from all angles, says report

The European Union’s drive to harmonise payments is overly ambitious, warns study

LONDON – Only weeks before Europe’s Payment Services Directive (PSD) is due to be implemented by member states, initiation of the Single Euro Payments Area (Sepa) is in trouble, according to research by the Financial Services Club.

The PSD is due to be transposed into national law by 26 EU member states on November 1, but the report, carried out over the Summer on over 350 industry participants and sponsored by payments industry vendors BT, Earthport and Logica, says harmonisation will fall far

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