Cash management: The Sepa revolution quietly creeps in
Sepa and the PSD: a brief history
The goal of the Single Euro Payments Area is the treatment of all euro payments in the euro area as domestic payments and the removal of the differentiation between national and cross-border payments, thus creating increased payment efficiency in Europe – something that is sorely needed. According to the European Payment Council, at least six out of seven payment transactions in the region still use cash, a method that it calculates costs the economies of the EU15 about €50 billion a year.
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