Single Euro Payments Area
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(SEPA).
The Single Euro Payments Area is the area within which businesses and individuals can make and receive payments in euro, whether between or within national boundaries under the same basic conditions, rights and obligations, regardless of location.
UK PSPs to remain in SEPA
- "Whatever shape Brexit takes, UK payment service providers (PSPs) will continue to take part in the Single Euro Payments Area (SEPA).
- SEPA managing authority the European Payments Council (EPC) announced the decision in March, following an application that trade body UK Finance filed with the EPC late last year."
- The Treasurer magazine, Cash Management Edition April 2019, p8.
The area covers the European Union Member States plus other countries and territories including Iceland, Norway, Liechtenstein, Switzerland, San Marino and Monaco.
SEPA encompasses the SEPA Credit Transfer, SEPA Direct Debit and SEPA cards frameworks.
See also
- EC Directive 2007/64/EC
- EMEA
- Euro Banking Association
- European Payments Council
- European Union
- Instant Credit Transfer Scheme
- Payment service provider
- Payments and payment systems
- PSD2
- RT1
- SEPA credit transfer
- SEPA direct debit
- UK Finance
