Single Euro Payment Area (SEPA)

Single Euro Payment Area (SEPA),

Definition of Single Euro Payment Area (SEPA):

  1. An area within the Euro zone where people can carry out various transactions, including card payment in euro, irrespective of their location. SEPA was designed to improve the ease of cross border transactions and promote a widespread euro adoption, reducing fragmentation within the market. SEPA is regulated by the European Commission, European Central Bank and European payment council.

Meaning of Single Euro Payment Area (SEPA) & Single Euro Payment Area (SEPA) Definition