The Paypers published on 4^th May 2014 (Volume 7, Issue 4) its monthly paper focusing on updates related to SEPA. The paper discusses three main points:

• Regarding the ECB Secure Pay Recommendations for the Security of Internet Payments, more clarity is needed. It is also essential to take into consideration the lack of a level playing field and the competitive disadvantage produced by these recommendations.
• Additional elements need to be added on the proposed Interchange Fee Regulation.
• How the non-regulated “massive payment volumes” in Europe would affect payment services and e-money products in the European market.