For those interested in finding out what the Single European Payments Area (Sepa) entails, a breakfast seminar on the topic is taking place this Wednesday.

Sepa will come into effect next February and will have important consequences for how electronic fund transfers are processed and direct debit payments.

Introducing common standards and rules across 33 countries, the aim of Sepa is to simplify and reduce the cost of cross-border electronic payments.

The breakfast seminar, hosted by Ibec, will begin with an overview of the impact Sepa will have on the economy and credit conditions by Ibec chief economist Fergal O'Brien, followed by a presentation from the Central Bank on the current state of implementation of the Sepa initiative.

Panel discussion
Other speakers include John Rice, Central Bank Sepa programme manager, and Michael O'Neill, Sepa programme manager at Irish Payment Services Organisation.

There will also be a panel discussion on implementation issues, a Q&A session and a roundtable discussion of the issues involved.