The Monegasque National SEPA Committee

INFORMATION

STARTING AND MANAGING A BUSINESS

Last updated: 27/06/2023

Summary

What is the SEPA project?

The SEPA (Single Euro Payments Area) project is a European initiative extending the changeover to notes and coins in euros.

The aim is to create a single range of payment methods in euros that is common to all European countries. Using these new means of payment, consumers, enterprises, traders and Administrations can make payments under the same conditions throughout the euro area as easily as in their own countries.

The role of the SEPA Committee

Its role is to:

Coordinate stakeholders in the Principality in order to put in place new payment methods
Support the migration plan
Communicate with all stakeholders

Composition of the Monegasque National SEPA Committee

The Monegasque National SEPA Committee is jointly chaired by Mr Xavier O’Jeanson, in his capacity as Vice-President of AMAF (Association Monégasque des Activités Financières) and Ms Sophie Vatrican, Deputy Director of the Department of Budget and Treasury.

It includes representatives from:

AMAF (Monaco Association for Financial Activities)
The State

- Department of Budget and Treasury
- Public Treasury
- Department of Legal Affairs
- Public Car Parks Office
- Department of Information Technology
- Business Development Agency
- State Property Authority

The Commune
CHPG (the Princess Grace Hospital)
The Principality's public utilities

- Monaco Telecom
- SMEG
- SMA
- SMEaux
- Société des Bains de Mer

Enterprises & traders

- The Monegasque employer's association (Fédération patronale monégasque)
- The Economic and Social Council (Conseil Économique et Social)
- Chambre Immobilière monégasque
- Monaco Union of Traders and Artisans (Union des Commerçants et Artisans de Monaco)
- Association des Directeurs Informatiques de Monaco (ADIM)