On 28 January 2008 the first Single Euro Payments Area (SEPA), a payment instrument for credit transfers, will be officially launched. SEPA enables people to make cashless payments throughout the Euro area as quickly, safely and easily as national payments. All Euro credit transfers and direct debit payments thus qualify as domestic payments made with one set of payment instruments. After the introduction of the Euro, SEPA is the next key step in achieving an integrated European market for payment services that removes all technical, legal and commercial barriers between current national payment markets.