Its been a rollercoaster, and I’m guessing anyone that is reading this post has had quite a ride!!! Today is deadline day for SEPA compliance for all euro currency payments and direct debit collections in the euro-zone countries. It is without a doubt a huge milestone, referred to by the European Central Bank as one of the worlds biggest financial integration projects. SEPA has presented both pain and joy for many that have been associated with the SEPA project so far.
Is this it? Of course not!
The SEPA experience in each country has already been different and will no doubt continue to be. Some experiences have been very painful – for example salaries not paid during a ‘SEPA Holiday‘. The in country and European wide authorities need to review these types of experiences and look to provide a uniform SEPA service to key stakeholders across the euro-zone. There are also many other efficiencies and improvements – I’ve discussed the concept of a payment factory, and will post on other opportunities too…
I recommend reading the following for those wanting to know:
- The Benefits of SEPA….
- If you are not SEPA compliant, 4 things you need to do today….
- If you are SEPA Compliant, What Next?li>
This is a huge step along the SEPA journey, the next key deadline is 2016 – more on this soon…
For now take a deep breath, and enjoy your ‘SEPA free’ weekend. For those of you due to go on holiday, SEPA will soon be a distant memory – at least for a few weeks. 😉