The focus of SEPA is on making efficient and standardised payment options available to EU consumers. The greatly simplified payments world that will result is expected to deliver major benefits, particularly for those with a requirement to make cross-border payments.
SEPA should also result in enhanced competition, since all consumers using payment services, and not just those making cross-border payments, should be able to choose between all payment service providers throughout the euro area that offer SEPA-compliant products, regardless of where those payment service providers might be located.