This book reviews the key implications and challenges of SEPA and the PSD across the European landscape, and the likely outcomes of SEPA for 2010 and beyond. The main themes that emerge are that many of Europe?? leading providers of payments infrastructures, which are often bankowned, will disappear and new payments providers and structures will emerge. Some of these will be evolutions and some will be revolutions. In addition, there will be major impacts upon those banks that cannot provide euro-services competitively in this new geographically competitive environment. The winners will reap major rewards, but there will be far more losers who will be merged or acquired.