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Payments in Europe The development of European payment means and systems is currently accelerating. In and of itself, the euro's arrival is an engine pushing for the harmonization of practices, rules and payment systems, but also for the development of new ranges of payment instruments. The diversity and heterogeneousness of the current situation has led the European banking profession to get itself organized since the first quarter of 2002, by creating the European Payment Council (EPC) , to bring about the establishment of a unique payment area known as the SEPA (Single European Payment Area). Studies have been undertaken within the European Payment Council in an effort to define the instruments and infrastructures that will best suit this new "pan-European" context.
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