Vision document SEPA

At the beginning of this year the starting signal was given for a transitional period to a common European payment market, which is supposed to make it easier for consumers and businesses to make cross-border transactions with a checking account. SEPA is an initiative of the European Central Bank and the European Commission. The Dutch banks have worked with the Dutch Central Bank (De Nederlandsche Bank) and Currence (the owner of PIN) to draw up a plan for the transition to SEPA in the Netherlands. The NMa is a great supporter of a smoothly functioning European payment market, but wants to ensure that the agreements made in connection with this do not restrict competition. Collective agreements on prices, dividing up the market or limiting offerings are not permitted on the basis of the Competition Act. The NMa is therefore following the developments regarding SEPA very closely and will take action if necessary.