13 September 2012

EPC: Fourth progress report on migration towards SEPA in Belgium

The fourth progress report on migration towards SEPA in Belgium was published in September 2012. Belgium remains a front runner regarding migration to harmonised SEPA payment schemes.

The Belgian national central bank issued a press release on the publication of the fourth progress report on migration towards the Single Euro Payments Area (SEPA) in Belgium. In July 2012, the share of European credit transfers had reached more than 58 per cent of the total number of credit transfers made, a much higher proportion than in most of the other countries. The public authorities and 'big-billers' have to a large extent completed their migration; it is now up to small and medium-sized enterprises to make their changeover to SEPA. (...) at the end of 2011, one of Belgium's biggest billers started using the European direct debit, boosting the share of European direct debits to a level somewhere between 12 and 15 per cent, compared with less than 1 per cent in the rest of Europe."

In September 2012, the fourth progress report on the migration towards the Single Euro Payments Area (SEPA) in Belgium was published under the auspices of the Steering Committee on the future of means of payment. This committee, chaired by National Bank of Belgium Director Jean Hilgers, brings together all economic stakeholders concerned, namely leading representatives from the public sector, the banking sector, businesses and consumer rights associations. It organises the social dialogue on the subject of SEPA and provides encouragement for its introduction in Belgium. Following on from the three previous reports, this latest progress report describes the progress made to date. As of July 2012, in Belgium, the share of European credit transfers reached more than 58 per cent of total credit transfers; the share of European direct debits amounted to a level between 12 and 15 per cent.

Press Release Belgian National Central Bank on 4th Progress Report on Migration towards SEPA in Belgium

Fourth Progress Report on Migration towards SEPA in Belgium

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