Intelligence for SEPA SDD (22)
NewsJul 9, 2026
Turkey Submits Letter of Intent to Join Single Euro Payments Area
SEPA currently covers 41 countries under harmonized rules for euro credit transfers and direct debits. Cross-border euro transfers between Turkey and Europe can cost up to EUR 40 for amounts between EUR 1,000 and EUR 5,000.
NewsJul 3, 2026
PayPal Joins European Payments Council as Second Major Fintech Member
The second major global fintech to join the EPC after Stripe's January 2025 entry, PayPal will contribute to governance of SEPA credit transfer, direct debit, and instant payment schemes used by 4,000 payment service providers across 41 countries.
AnalysisJun 15, 2026
STEP2 Credit Transfer Volumes Run Below 2025 Levels Through May While Direct Debit Processing Accelerates
The SCT volume decline at STEP2 coincides with accelerating instant credit transfer adoption across the euro area.
AnalysisMay 28, 2026
STEP2 Direct Debit Services Grow Through Europe's Instant Payment Transition
ECB payment statistics for the first half of 2025 recorded 11.3 billion direct debit transactions in the euro area. Volume grew 2.3 percent year-on-year. Value increased 6.2 percent to €5.6 trillion.
RegulationMay 21, 2026
PSD3 and PSR Clear ECON Committee Vote as Plenary Slips Past May
The European Parliament's ECON Committee approved the final PSD3 and PSR trilogue texts on May 5 with commanding majorities, clearing the last substantive legislative hurdle. The full plenary vote was not scheduled during the May 18-21 session, pushing formal adoption to June and potentially delaying Official Journal publication into late summer.
NewsMay 18, 2026
AikBank Processes Serbia's First SEPA Payments as Country Reaches Operational Readiness
The European Commission formally welcomed Serbia's operational participation on May 5. Serbia is the fifth EU enlargement partner to join SEPA, following Albania, Moldova, Montenegro, and North Macedonia.
AnalysisMay 18, 2026
SEPA Direct Debits Resist Instant Payment Substitution as Batch Credit Transfers Decline Across 2026
STEP2 batch credit transfer volumes have fallen year-on-year in every month of 2026. SEPA Direct Debit Core volumes grew 2.6 percent year-on-year in April 2026, demonstrating that mandate-based recurring payments face different competitive dynamics than one-off credit transfers.
RegulationMay 13, 2026
European Parliament ECON Committee Adopts PSD3 and PSR Texts, Clearing Path to Plenary Vote
ECON approved the PSD3 and PSR final compromise texts on May 5, clearing the last committee hurdle before a full Parliament plenary vote expected during the May 18-21 session. The legislation replaces PSD2 and applies 21 months after Official Journal publication, likely around March 2028.
RegulationMay 9, 2026
European Parliament ECON Committee Clears PSD3 and PSR with Overwhelming Majorities
The approval sends both texts to plenary for a final simple-majority vote expected later in May, with Official Journal publication anticipated by September 2026 at the latest, starting the 18-month countdown to PSR application and PSD3 transposition.
RegulationMay 7, 2026
PSD3 and PSR Clear EU Council as COREPER Endorses Final Texts
The final legislative texts for the EU payment services overhaul passed a key Council hurdle on April 22, 2026, with parliamentary committee and plenary votes expected in May. Official Journal publication is targeted for mid-2026, starting the 18-month clock for PSR general application.