Cashless Wanderlust; Payments in the European Union.(Cross-border payments in Europe) From: The Economist (US) | Date: May 20, 2006 | COPYRIGHT 2006 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

A small step towards seamless cross-border banking

GERMAN tourists in South Tyrol or on the Costa Azul will soon be carrying less cash in their porte-monnaies. Under an agreement this week with Germany's main banking associations, Italian and Portuguese banks will accept German debit cards at cash machines and points of sale, starting next year.

This is a small but significant step towards the European Commission's goal of making payments between European Union countries as easy as they are within them--an idea known as the single European payments area, or SEPA. It will ...

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