Regulation -

80% of corporates yet to fully migrate to SEPA

European corporates continue to underestimate the work involved in complying with new SEPA regulations, which become mandatory on 1st February 2014.

With the SEPA deadline fast approaching, an interactive webinar & survey jointly presented by AccessPay, SWIFT and sharedservicelink.com revealed that most firms face a lot of hard work to complete their migration on time.

Major findings of the interactive survey include:

·         41% of respondents are yet to really evenmake a start with SEPA migration

·         Just 2% of participants claimed to be fully migrated

·         2 in 5 corporates claim to do equal amounts of local and cross border payments, underlining the potential benefits of SEPA

The interactive SEPA webinar was intended to help address what amounts to a Europe-wide state of unreadiness when it comes to SEPA implementation.  Webinar participants benefited from presentations from Ali Moiyed and Neil Harris from AccessPay and Neil Gray from SWIFT.

As well as understanding the 6 must-dos of any “Get SEPA-Ready Plan”, participants were able to pose questions to the panel and share intelligence via the live, interactive survey before being introduced to AccessPay’s innovative all-in-one SEPA solution.

Ali Moiyed, CEO at AccessPay, comments: “SEPA offers many benefits for corporates – not simply through payment harmonization, but by facilitating lower transaction costs, simplified banking and the chance to cost-effectively target new territories; but reaping those benefits depends on a robust and timely SEPA migration plan. Providing seamless, stress free migration that’s competitively priced and rapidly deployed was my core objective when founding AccessPay.”

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