Move to simplify e-commerce in Euro zone
January 23 Mike Butcher
An initiative by European banks to harmonise transactions within the EU – will officially launch next Monday. The Single European Payments Area (SEPA) aims to make all electronic payments within the euro zone (which the UK is not part of) as simple as domestic transactions, including eliminating fees associated with these transactions. Unfortunately, the initiative is still only in its early stages and SEPA itself is a voluntary concept with no European legislation specifying that countries must follow its guidelines. However, In the future, Irish businesses trading within the EU will be able to accept debit cards from other countries, not just credit cards.
Comments
January 23rd, 2008 at 12:22 pm
Would be a massive boon to eliminate the need to collect a valid VAT number from every non-UK EU business customer. It’s frustrating having to depend on customers for this info while being held responsible for having the right VAT numbers by the taxman.
January 23rd, 2008 at 2:03 pm
for our businesses water4fish.co.uk and findperfectgift.co.uk its very good news as we order a lot of our product form EU and need to pay in euros, good news