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SEPA (single european payments area) infographic

S PA? SEPA (Single Euro Payments Area) is a major SEPA step towards a single integrated Euro payments market. Its aim is to allow companies, public authorities and individuals to issue and receive payments within countries of the SEPA zone, as swiftly as local payments can be processed today. END DATE 2014 1 February SEPA numbers 3 2 countries 5 27 Million people 25 Million companies 9200 financial institutions 8 7. 5 Billion transactions per year SPA for Business for Consumers All businesses need to ensure From 1 February 2014 an IBAN and BIC (Bank Identifier Code) that payroll, direct debit and accounting systems are SEPA ready on 1 February 2014. will be required to make and receive euro electronic payments What is the process? 4 steps process For all electronic transaction make sure you have IBAN and BIC. These numbers are generally available on your bank account statements. Planning Identify all internal processes impacted by SEPA, including sales, operations, finance / accounting. 2 Implementation Chech IBAN / BIC conversion Check your e-banking solutions compatibility with the new SEPA XML format. 3 Testing Make sure your payment system is compliant and your ERP system is SEPA ready. Provide training to all staff members impacted by SEPA 4 Launch Payments files will be submitted to banks using ISO 20022 XML format 8 digit account numbers will be replaced by IBAN Direct debit agreements are converted to SEPA. SEPA Benefits Pay suppliers much easier and faster in any SEPA countries. Faster settlement and simplified processes will improve cash-flow and potentially reduce cost. Only one bank account required to make and receive payment on SEPA countries Countries covered by SEPA ניחי Migration overview 31 March 2012 Regulation No 260/2012 entered into force; pan-European reachability; phasing-out of 650,000 ceiling for equal charges to apply. 1 November 2012 Cross-border transaction MIFS (multilateral interchange fees) were eliminated for direct debits. 1 February 2014 SEPA migration deadline for SEPA credit transfer and SEPA direct debit within the euro area; no BIC (business identifier code) to be required for national payments. 1 February 2016 No BIC to be required for cross-border payments; niche products migration complete. 31 October 2016 SEPA credit transfer and SEPA direct debit deadline for non-euro area countries. 1 February 2017 National transaction MIFS (multilateral interchange fees) to be eliminated for direct debits. SEPA indicators 56.3% 6.8% SEPA credit transfers SEPA direct debit of total transactions of total transactions Date November 2013 • Source: http://www.ecb.europa.eu SEPA processes and benefits SCT - SEPA Credit SEPA Cards SEPA Direct transfer Scheme Framework Debits Consumers pay for goods and services in SEPA coutries as simple they do it now on home country More flexible payment options for people living in SEPA zone, cards Make a payment from London to Madrid as simple as London to payments and cash withdrawals made as Oxford easy, secured and fast as at home SEPA status Migration of Credit transfers 70 400 341,14 60 350 300 250 40 341,14 200 30 150 147,68 100 82,01 33,36 10 50 9,62 December, December, December, December, December, September, 2010 2011 2008 2009 2012 2013 Migration of direct debits 45 43,47 40 35 25 20 11,72 3,06 0,25 0,47 December, December, 2011 December, September, 2012 2013 December, 2009 2010 Migration of card payments EMV transactions in the euro area Cross-border transactions in the euro area (as a percentage of total transactions at POS terminals) (as a percentage of total transactions at POS terminals) 9.0 85 8.5 80 8.0 75 7.5 70 7.0 6.5 65 6.0 60 5.5 55 5.0 4.5 50 4.0 45 3.5 40 3.0 Jan 2008 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan 2013 Jan 2008 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan 2013 Source: http://www.ecb.europa.eu/paym/sepa/about/indicators/html/index.en.html Are you ready for S PA Check here SEPA solutions provided by top European banks What is Volumes of SDD Transactions (Millions) Volumes of SCT transactions (Millions) 13,85% 23,71% %98' 6,84% 56,26% % of SDD over total transactions % of SCT over total transactions

SEPA (single european payments area) infographic

shared by StefanSkw on Dec 18
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SEPA is a major step towards a single integrated Euro payments market. Its aim is to allow companies, public authorities and individuals to issue and receive payments within countris of the SEPA zone...

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