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Payment Systems in EU

Payment Systems in EU

Copyright: © 2011 |Pages: 38
ISBN13: 9781615206452|ISBN10: 1615206450|EISBN13: 9781615206469
DOI: 10.4018/978-1-61520-645-2.ch010
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MLA

Masashi Nakajima. "Payment Systems in EU." Payment System Technologies and Functions: Innovations and Developments, IGI Global, 2011, pp.130-167. https://doi.org/10.4018/978-1-61520-645-2.ch010

APA

M. Nakajima (2011). Payment Systems in EU. IGI Global. https://doi.org/10.4018/978-1-61520-645-2.ch010

Chicago

Masashi Nakajima. "Payment Systems in EU." In Payment System Technologies and Functions: Innovations and Developments. Hershey, PA: IGI Global, 2011. https://doi.org/10.4018/978-1-61520-645-2.ch010

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Abstract

The reforms of retail payment systems were also sought in response to the introduction of the euro. However, the retail payment systems in the EU are still fragmented, which means that each country has its own retail payment system. In order to overcome such a situation, the European Central Bank (ECB) and European Commission have promoted the project of “Single Euro Payments Area” (SEPA). The aim and situation of the SEPA project is described in detail. The cross-border retail payment systems, i.e. the “STEP1” and “STEP2,” are also discussed in this chapter.

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