Payment systems were not disrupted by the financial crisis and certainly did not cause this crisis, thanks to solid operations, regulations and central bank oversight. In fact, payments and, in particular, retail payments turned out to be one of the few stable business lines left for banks. It is no surprise that many banks are rediscovering retail payments.
The provision of payment services to companies and households is one of the core functions of retail banking, and also a key public service. Therefore, the work on the SEPA project remains a crucial part of European integration in the area of financial services.