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SEPA

Single Euro Payments Area

SEPA

Infrastructure

Single 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.

How does SEPA relate to Open Banking?

Single Euro Payments Area is a key concept in the Open Banking ecosystem, falling under the Infrastructure category. 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.

More Infrastructure Terms

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