THE IMPACT OF THE SINGLE EURO PAYMENTS AREA ON THE ROMANIAN FINANCIAL SERVICES MARKET
THE IMPACT OF THE SINGLE EURO PAYMENTS AREA ON THE ROMANIAN FINANCIAL SERVICES MARKET

Summary/Abstract: The introduction of Single Euro Payments Area is the most significant change to the European financial services market since the introduction of the Euro. SEPA is likely to both influence and have an impact upon all the players in the payments industry. Customers, both consumers and corporate bodies, banks, card schemes and processors, public administrations stand to benefit considerably from the wide range of new opportunities that have opened through the launch of SEPA, as it will promote efficiency, competition and innovation. In this paper we refer to the necessity of introduction of this ambitious project and its overall economic impact in our country. Although Romania may be facing obstacles in terms of joining the Euro zone, it is already well integrated in terms of payment infrastructures and has already put in place SEPA instruments.

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