The impact of the Single Euro Payments Area on European corporates

The creation of Single Euro Payments Area is the most important change affecting the financial services market in Europe, after the launch of the single currency. The project extends upon all payment industry players. The purpose of this paper is to highlight the implications of SEPA initiative on European corporate bodies, in terms of challenges, opportunities and benefits, and how the associated advantages can be obtained as a result of a solid collaboration with the partner banks and the effective implementation of the SEPA standards and products. Customers, both consumers and corporations will greatly benefit of the whole range of new opportunities offered, as the project promotes the efficiency, competition and innovation.