The survey of 300 businesses in France, Germany and the UK conducted by Edgar Dunn Company on behalf of Steria, found that almost 70% of European businesses are aware of Sepa in general, and more than 80% of businesses have heard about Sepa Direct Debit in France and Germany. However, only 26% of British businesses are conscious of the mandate.

Just a third of organisations (31%) have migrated or is in the process of migrating to Sepa Direct Debit (42% in Germany, 35% in France and only three percent in the UK). More than 60% in the UK have not started to work on migration to Sepa at all, compared to 30% of French and German businesses.

All French businesses and a majority of German firms issuing direct debits (85%) claim that they will be Sepa-compliant on time for the end date.

The study also found that a quarter of European businesses is considering working with external payment partners to help them to migrate adequately.