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The Eurosystem urges further progress on the SEPA project, according to a list of expectations issued by the ECB. A “mini-SEPA” for cross-border payments only is not acceptable, the paper states.
SEPA providers are to ensure their operational capability to send and receive SEPA payments, and to offer users SEPA instruments that correspond to instruments otherwise offered with legacy euro payment instruments for both sending and receiving domestic and cross-border payments within SEPA.
Companies and public administrations are expected to include a reference to both the SEPA criteria and the Eurosystem’s expectations in the context of their tender procedures, and also to use a payment service provider that observes the SEPA rules and expectations.
Retailers, when accepting card payments from their customers, should consider whether the card schemes and acquirers with whom they are contracting follow the SEPA framework.
Finally, customers are called to inform themselves about the IBANs of their accounts and the corresponding BICs of their banks.
BICs and IBANs should be indicated on each payment, the ECB expects.