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| Progress towards the Single European Payment
Area (SEPA) is gathering pace. The European Central Bank has set 2008
as the buffer date for banks to begin harmonising transfers, direct
debits and card payments, and 2010 as the date for completion of this
process for payments in the European Union. At the same time, the
EMV standard is being rolled out across the EU: to date one third
of European cards and one quarter of Eftpos terminals have been switched
to the new standard. |
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