Businesses around Europe have not been properly preparing for Sepa’s migration in February 2014 and the Council of the European Union is demanding member states, banks and end users to put forth more effort, reports Finextra. During a recent economic and financial affairs meeting, the EU council reminded constituents of the Sepa deadline of the need to prepare card processing accordingly. The council has observed a slow migration amongst business owners, particularly small and medium enterprises, in Europe and has highlighted great concern. The council warns that any merchants who have not upgraded to the correct format by February 1 will be unable to process payment orders.
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