Central Banking

France bails on Sepa Direct Debit

The French National Single Euro Payments Area (Sepa) Committee, set up and chaired by the Banque de France and the French Banking Federation, has opted to delay the implementation of Sepa direct debit by a year to November 2010.

The committee said on Friday that the decision to move the implementation date resulted from delays in the transportation of the Payment Services Directive to national law, and the need for further investigation and clarification of the economics of new interchange fee