Decisions on the future of the Single European Payments Area can only be made by the EU Legislator which represents the 27 EU Member States and the European Parliament.
(PRWEB UK) 14 September 2012
The blog post details the latest rumours surrounding the legally binding deadline date for SEPA migration and how it may not apply due to the on-going financial crisis within the Eurozone. The deadline for existing Direct Debit and national euro credit transfer schemes is 1 February 2014. The European Payments Council Chair, Javier Santamaria, released a statement via the EPC blog, to remind all parties involved with SEPA payment processes that the mandatory migration date still stands and to rely on the EU Legislator for any movement on the migration date.
The EPC’s comments came as a result of many comments regarding the compliance of the SEPA migration date due to the current euro crisis. One such comment was made by Dr Nathalie Moreno stating that “The euro crisis is developing at such a rate in 2012 that nobody can predict what will happen, and the impacts of increased lending and bailouts to keep the euro afloat will surely affect the ability of these economies to make a certain decision on the future of SEPA”.
The blog post forms part of SmartDebit’s commitment to provide the latest SEPA Direct Debit updates to both clients and prospective clients. SmartDebit are currently developing their systems to incorporate SEPA payment mechanisms and anticipate completion by the 3rd quarter of 2013, ready for the full and complete migration deadline date. A spokesman from SmartDebit commented on the recent rumours surrounding SEPA.
“Decisions on the future of the Single European Payments Area can only be made by the EU Legislator which represents the 27 EU Member States and the European parliament. We urge all interested parties to follow the EPC’s blog for important information regarding SEPA,” he says. “We believe the ability to collect direct debit payments across the European continent is very attractive to numerous organisations across the UK and view the introduction of SEPA as a contribution towards solution to the current crisis in the Eurozone”.
SmartDebit™ are the UK’s leading Direct Debit Service, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.
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