EU's Sepa scheme stalls without regulation


LONDON – November 2 marked the deadline for the launch of the Single Euro Payments Area (Sepa) for direct debits. But the scheme, ostensibly designed to harmonise payments throughout the European Union's single market, has been slow to take off. Evidence suggests that, while Sepa and its EU legislative vehicle the Payment Services Directive (PSD) should create a variety of benefits - everything from updating outdated legacy systems to increased industry competition and consumer choice - neither

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