No time to lose on Sepa compliance

With mandatory Single Euro Payment Area compliance due in February 2014, laggard companies have little time to put their payment and remittances systems in order, especially those dealing with direct debits.

If the number of words expended on a subject were any indication of the level of awareness, the Single Euro Payment Area (Sepa) would surely be as popular as Korean rapper Psy’s worldwide hit, Gangnam Style. But despite the best efforts of journalists, transaction banks, regulators and business lobby groups, surveys repeatedly demonstrate that corporates are not only unprepared for Sepa but don’t even know what they need to do to be ready for it.

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