When people think about the functions of the central bank, they tend to focus on monetary policy, which is, in recent years, often narrowly defined as the adjustment of short-term interest rates.
To bring SEPA for Cards to fruition, it is necessary to surmount these obstacles, as national card schemes are at risk of extinction, and competition might decrease to a duopoly of international schemes with similar business models. Again, discussion of these obstacles should not divert attention away from the great benefits that SEPA for Cards will bring to banks, merchants and cardholders.