All new opportunities within Europe are depending on the scale of interoperability and harmonization. The biggest barriers now for pan-European success are national regulations. Yes, on paper there is one European market but in reality selling cross-border means also adopting to all cross-border legal habits. Facing and fighting that fragmentation, is the greatest opportunity for the European payments landscape.
Jose-Carlos Cuevas de Miguel:
From a treasury perspective: We should take a step forward on harmonising the layouts and moving towards global payment factories and what could be more important and challenging… collection ones. but to do so we should all try to get that mini-SEPAs disappear.
Centralization of collections from all Europe.
Increased straight through processing in booking incoming payments on account receivable systems
Availability of new pan-European payment services based on SEPA payments schemes
Competition among different payment methods in the e-payments and pos-originated payments
Tim de Knegt:
Extend the SEPA area and censure good integration with other regions. Different standards around the globe create issues for multinationals. This should be tackled and a priority for all regions, not just SEPA.
Piet van Keulen:
The SEPA format is in XML. That format is rapidly becoming the global standard and it is already widely used (for example in the USA). As such, the move to high volume low cost payment methods from different regions over the world has become easier. Informa is currently working on XML files for payments from its USA based companies to different regions in the world. The payments to Europe will be in XML-SEPA. The payments to other regions will be prepared in XML alternatives.
SEPA has harmonized and made more easy the payments in European area (34 countries joined the SEPA system) since Feb 2014. How could we do the same for the non- European countries ? doing business with some countries means setting up of some bank guarantees, documentary credits or stand -by letters of credit or having a credit insurance policy… the question is also now how to securize the international transactions according to the actual political situation in some countries when banks and credit insurance companies simply refuse to allow credit lines with some countries or some specific customers… ?
Marco van Katwijk:
The companies in Europe are just starting to become aware of the new opportunities due to SEPA introduced possibilities. As example I want to use the country laws that have followed the European laws related to company and consumer digital identities(e-id). The upcoming implementation in the next year(s) will create new bank independent solution for multiple purposes in Europa across borders. If accepted by government, companies and banks digital contract signing, e-mandate signing and more can be combined as a much more standardized way to do financial transactions. Such a digital identity to authenticate could limit the number of usernames and passwords for each government, company and bank website/app. This will increase user-friendliness and make the user identification much more effective for companies.