SEPA-migration in Europe gathers pace

Latest statistics published by European Central Bank shows that migration to a Single Euro Payments Area (SEPA) has accelerated in December 2013. According to the latest data provided by national central banks, at the end of December 2013 74% of credit transfers in the euro area were compatible with SEPA standards (compared to 64% in November). For direct debits, the figure was 41%, rising sharply from 26% in November 2013.