Central Banking

Towards a Single Euro Payments Area - 3rd report

In its third progress report on the single euro payment area (SEPA), published Thursday 2 December, the Governing Council of the ECB assesses recent developments in the efforts to transform the still largely fragmented national retail payment systems into a single euro payment area.

The objective of a SEPA is to enable European citizens to make payments throughout the whole area from a single bank account, using a single set of payment instruments, as easily and safely as in the national conte