Visa Europe Offers SEPA Check-Up
Visa Europe has launched SEPA HealthCheck, a service which is designed to give banks an objective view of the status of their SEPA compliance programs.
The SEPA HealthCheck service costs 15,000 Euro (US$20,274), Jeremy Nicholds, Visa Europe's executive vice president, Commercial Development, tells ePaynews. ôSimilar SEPA compliance testing services from IT consultancies would cost three or four times as much as this,ö Nicholds says. ôThe reason we have introduced the service is not to generate a new income stream, but because we have a vested interest in ensuring banks comply with SEPA.ö Last month, IT firm LogicaCMG and UK-based processor Voca launched a test facility for financial institutions wanting to prepare for the introduction of SEPA (UK Firms Offer SEPA Test Services). Nicholds tells ePaynews that SEPA HealthCheck involves a Visa analyst spending around five days with a card issuing or acquiring bank, interviewing senior executives and members of its SEPA team. ôOnce the analyst has reviewed the bankÆs SEPA compliance program, he or she will produce a report giving specific recommendations,ö Nicholds says. Visa Europe is holding a series of SEPA workshops for member banks throughout May in Frankfurt, Madrid, Milan, Stockholm and Prague to provide an update on the status of SEPA and regulatory initiatives by the European Commission. The workshops will also provide information on SEPA HealthCheck, Visa says. Related Links
www.visaeurope.com
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