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The architects of the Single Euro Payments Area (SEPA), designed to harmonise euro-denominated money transfers, hope the system will allow customers to make payments using mobile phones. Dag-Inge Flatraaker, from the bank-driven European Payments Council, told EurActiv that banks have come a long way but must now work to iron out security issues.
Dag-Inge Flatraaker is general manager and head of Interbank Infrastructure and Payment System Strategy at Norwegian bank DnB NOR. He has also worked with the European Payments Council (EPC) on establishing a SEPA strategy for e-commerce and m-payments.
Flatraaker was speaking to EurActiv’s Claire Davenport.