SEPA Migration Action Round Table (SMART)

The EBA supports industry fora geared at addressing in an ad-hoc approach any practical issues of an operational nature that may hamper payment service providers in their implementation of a fully integrated euro payments area.

From March 2013 until the end of 2016, the EBA facilitated the SEPA Migration Action Roundtable (SMART), a forum for banks and by banks geared at dealing with SEPA migration and post-migration issues. SMART dealt with open issues and uncertainties in relation to the implementation in practice of the SEPA Regulation requirements and to the banks’ day-to-day execution of SEPA Credit Transfers and Direct Debits, especially in the cross-border space. Its work was geared at bringing clarification to SEPA (post) migration-related issues and defining industry best practices to support banks in their interbank and intra-bank handling of SEPA payments, independently of the payment infrastructure they use.

The SMART activities were taken forward in consultation with the European Payments Council and other industry bodies, where needed, to avoid any duplication of efforts.

SMART has issued several comprehensive guides and recommendation notes on practical (post) migration-related issues. A key focus was placed on measures geared at helping to reduce SEPA Direct Debit R-transaction rates:

Another publication by SMART gives an overview of the country-specific particularities that create local flavours in the customers’ payment experience and may represent obstacles affecting the seamless exchange of euro retail credit transfers and direct debits from a single payment account with counterparties across Europe:

With the support of the Euro Banking Association, SMART Participants will strive to keep this overview updated on a regular basis as needed. Should you be aware of any changes to the overview on local practices, please do not hesitate to contact us via the contact form.

Additional guidance documents issued by SMART and other ad-hoc industry groups supported by the EBA can be found in the Knowledge and Research section.