SEPA
InfrastructureSingle Euro Payments Area
Definition
The Single Euro Payments Area is a payment integration initiative of the European Union for simplification of bank transfers denominated in euro. SEPA enables standardized payments across 36 European countries and underpins many Open Banking payment initiation services.
Related Terms
Frequently Asked Questions
What is Single Euro Payments Area?
The Single Euro Payments Area is a payment integration initiative of the European Union for simplification of bank transfers denominated in euro. SEPA enables standardized payments across 36 European countries and underpins many Open Banking payment initiation services.
What does SEPA stand for in Open Banking?
SEPA stands for Single Euro Payments Area. It is a fundamental concept in Open Banking and PSD2 regulations. The Single Euro Payments Area is a payment integration initiative of the European Union for simplification of bank transfers denominated in euro. SEPA enables standardized payments across 36 European countries and underpins many Open Banking payment initiation services.
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