Brussels, 21/12/2011 (Agence Europe) - Under an agreement reached by the EU institutions on Tuesday 20 December, the new single European payment area (SEPA) for electronic payments should be phased in by February 2014.
The SEPA system was initially introduced by member banks of the European Payment Council (EPC) on a voluntary basis to lay down common rules and standards for credit transfer and direct debit transactions in euro in a single country.
Under the deal struck on Tuesday by EP...