The meeting discussions revolved around such topics as the need to establish a migration end-date for SEPA and the future of SEPA for payment cards. As pointed out by the SEPA Council members, the main goal of the meeting remains the realization of an integrated market for payments in the Euro currency. Such an achievement can only be attained by eliminating the barriers for euro payments within an area currently encompassing 32 countries, the Council believes.
Consequently, the SEPA Council aims to bring together members from the demand and supply side, promote discussions and foster understanding between the latter in order to create a SEPA retail payment framework.
The Council will meet twice a year for an initial period of three years. Before the end of 2011, the Commission and the ECB will evaluate its efficiency and functioning.
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