Speed up on SEPA: ECB's Tumpel-Gugerell
Banks need to step up their efforts if they are to be prepared for the launch of the Single European Payments Area (SEPA) on 1 January next year, according to Gertrude Tumpel-Gugerell, a member of the executive board of the European Central Bank.
SEPA creates a zone comprising 31 countries in and around Europe where all electronic payments are viewed as domestic.
Speaking in Frankfurt on Monday, Tumpel-Gugerell said specific attention should be paid to the finalisation of SEPA Direct Debit. An
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