Being a developing nation, Mexico in particular has gained from the opening of the economy and NAFTA, in terms of higher consumer wellbeing, output expansion and efficiency, among other benefits. Yet, in spite of more dynamic foreign trade, the country’s economic performance during the last three decades has been far from satisfactory.
Captain Cook undertook three major journeys; likewise, the SEPA challenge comprises three stages: the SEPA Credit Transfer (SCT) scheme, the SEPA Direct Debit (SDD) scheme and SEPA for cards. The players in the European banking industry have joined forces to establish SEPA and successfully reached the first stage of this demanding but very promising journey – the introduction of the SEPA Credit Transfer scheme.