A strong commitment is needed to make the Single Euro Payments Area a success, according to a new roadmap issued by the European Commission. The EU executive highlighted the slow progress being made on this system aimed at allowing EU citizens to make cheap and quick electronic payments across EU borders and indicated that member states might have to order banks in their countries to kick-start the project.

"To make SEPA a success, a strong commitment by all actors concerned is needed to ensure that the project is delivered on time and in a fully accountable way," Internal Market Commissioner Charlie McCreevy said.

"There is an increasing need for regulators and market players to work together to give Europe an efficient, secure and high performance system for non-cash payments in euro."

In a new communication, the Commission presented a roadmap where actions, actors and deadlines are clearly identified. According to the Commission, this communication should play a decisive contribution in helping SEPA successfully achieve its last miles.

Brussels listed six separate areas where the SEPA scheme is in danger of unravelling citing problems with investment in data systems, public relations, compliance law, a lack of innovation, gaps in standardisation and the scheme's management structure.

The Commission said that waning enthusiasm by banks may be exacerbated by uncertainty surrounding key aspects of the project.

"While SEPA is primarily market-driven, some uncertainty can only be resolved with the aid of public authorities. Action is needed now by all stakeholders," the communication states.

A phased introduction of SEPA began at the start of January 2008 and is due to be wrapped up by the end of 2010.

However, the Commission said that while the banking industry has been successful in designing the necessary rulebooks for SEPA Credit Transfers and SEPA Direct Debits, migration to the new SCT is currently lagging behind.

In July, one and a half years after the launch of SCT, only 4.4 per cent of all credit transfers used SEPA standards.

While acknowledging that SEPA should continue to be an industry driven project, Brussels said that it has to be ensured that SEPA is delivered on time and acts as a driver of greater competitiveness and higher growth, benefiting to businesses and citizens alike.