Central Banking

France explains Sepa delay

The French National Single Euro Payments Area (Sepa) Committee has justified its decision to delay the implementation of Sepa Direct Debit until November 2010, a year after the first available start date.

The committee, chaired by the Banque de France and the French Banking Federation, said last week that it would implement the scheme towards the end of 2010. The European Payments Council (EPC) said in March that the launch would take place between November 2009 and November next year.

Marc A