ECB Warns on SEPA Migration

Companies are running out of time to implement Single Euro Payments Area structures, the European Central Bank says.

The European Central Bank warned that companies are running out of time to implement payment structures that are in line with region-wide standards.

“A number of companies have adopted very late internal deadlines” to migrate toward the Single Euro Payments Area, or SEPA, the ECB said today in a report. “This is a source of concern,” it said. “More worryingly, small and medium enterprises’ and local public administrations’ awareness of SEPA is still fragmented and the level of preparedness is rather poor.”

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