SEPA: Migration is successful!

The final changeover to SEPA (Single Euro Payments Area) payments on 1 August 2014 was a success. It was the result of several months of in-depth involvement by the entire banking industry to avoid any major problems during the very fast ramp-up of European payment instruments.

Several initiatives at grass roots level have facilitated the migration of the remaining latecomers, particularly SME and very small businesses, to SEPA and avoiding that they are faced with rejected transactions at the target date in accordance with European regulations.

In total, the FBF organised more than 70 regional meetings on SEPA with the Banque de France and business representatives (CCI, MEDEF, CGPME, AFTE, etc.); these briefings were attended by more than 4,000 corporate executives.

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