SEPA was created by Europe’s banks in 2002 in response to
regulations and plans drawn up by the European Commission from a
meeting in Lisbon at the turn of the millennium. Consequently, SEPA
has been assisted by new legislation, the PSD, which was agreed in
2007. The implementation of SEPA takes place in 2008 within the
banking industry, with full operation in 2010, and will be a
massive change to not just banking, but all aspects of finance and... more...