Payment processorSIA-SSBhelped complete around 200,000 Sepa credit transfers in the
first week that
Sepa (the single Euro payments area)came into
force.
The total value of the transactions last week was £1bn, said
SIA-SSB, as more than 100 European banks exchanged credit transfers
complying with the new payments standard.
According to two studies carried out by the European Central
Bank and the EU respectively, Sepa will have significant positive
effects, with savings that could top £95bn over the next six
years.
A further £183bn could be added to this figure should Sepa also
be used for electronic invoicing.
Sepa expected to save £268bn >>
ABN Amro offers to process Sepa for other banks >>
