The Single Payments Area in Europe

Posted: 25 Jul 2015

See all articles by Agnieszka Janczuk-Gorywoda

Agnieszka Janczuk-Gorywoda

Tilburg Law and Economics Center (TILEC); Tilburg University Law School

Date Written: 2010


Recent legislative developments in the field of payment services in the European Union aim at building a uniform European payments market. The creation of an internal market for payments has been the result of both industry self-regulation and public regulation. The Payment Services Directive (PSD) and Regulation 924/2009 support and complement the private regulatory regime developed by the banking sector's European Payments Council, the Single Euro Payments Area (SEPA). The PSD provides a legal framework for SEPA by harmonizing certain core payments provisions, while Regulation 924/2009 substantially enabled the launch of SEPA Direct Debit by laying down the principle of “reachability” for cross-border direct debit payments and by regulating multilateral interchange fees in direct debit transactions. This Note describes in further detail the PSD, Regulation 924/2009, and their relation to SEPA.

Keywords: Single Euro Payments Area, SEPA, Payments, Regulation, Private Regulation, European Integration

JEL Classification: G21, G28, K12, K23, L50

Suggested Citation

Janczuk-Gorywoda, Agnieszka, The Single Payments Area in Europe (2010). Columbia Journal of European Law, Vol. 16, No. 2, 321, Spring 2010, Available at SSRN:

Agnieszka Janczuk-Gorywoda (Contact Author)

Tilburg Law and Economics Center (TILEC) ( email )

Warandelaan 2
Tilburg, 5000 LE

Tilburg University Law School ( email )

Tilburg, 5000 LE

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