SEPA - Single Euro Payments Area
Source: Serviceportal Rheinland-PfalzCredit transfers and direct debits in euros will be standardised throughout Europe. The term SEPA stands for Single Euro Payments Area. This SEPA area consists of all countries of the European Union and the European Economic Area as well as Switzerland. The aim of SEPA is to create common standards for payment transactions. According to these standards, all domestic and cross-border credit transfers, direct debits and card payments are to be processed in euros in the future. This will make payments within the Community faster and more convenient.