SEPA payment types for banks and fintechs: a short introduction
Scaling financial services in Europe is much smoother than in other regions. Why? Well, there's the regulatory alignment which makes cross border growth within the European Union simple.
But another huge factor is the Single Euro Payments Area, also known as SEPA. This scheme, which is overseen by the European Central Bank, enables cross border payments within the European Union and beyond. These payments operate just like domestic payments. In this way, SEPA provides a level playing field for cashless euro payments across the 36 participating countries, making life easier for participating financial institutions, and for merchants and consumers.