M&A opportunities in Europe's retail payments market under SEPA

Download M&A opportunities in Europe's retail payments market under SEPA (4.28mb)

This report summarises thoughts on the possible strategic directions of Europe’s retail payments industry and key factors driving change under Single Euro Payments Area (SEPA). This will result in a reduction in the number of retail payments Automated Clearing Houses (ACH) in the euro area, as competition drives consolidation. It considers potential implications for Europe’s retail payments ACHs, their existing shareholders and potential investors.

However, SEPA has much wider-reaching business and operational consequences for Europe's banks, corporates, merchants and processing schemes which we have not sought to address. In this report, we have adopted a very specific perspective on the implications of SEPA, focusing on the potential M&A aspects.