As regards education, it is recognized that schooling or training raises productivity or the capacity to earn and that a corresponding change in human-physical capital investment mix would raise overall output. Among various levels and types of schooling, primary education appears to offer the highest rates of return especially in low-income countries.
Here, I would like to emphasise that the EPC should provide guidance for standardisation initiatives in the different domains (card-to-terminal, terminal-to-acquirer, acquirer-to-issuer, and certification and type approval) on which standards are to be used for SEPA. Equally important, the EPC should also provide guidance on how to implement them.