top 5 simple reasons to choose sepa payments
DESCRIPTION
The Single Euro Payments Area (SEPA) will make payments quicker and easier throughout Europe. This presentation describes 5 simple reasons why can't miss out on SEPA Payments if you're considering doing business in the eurozone.TRANSCRIPT
5Simple Reasons to Choose SEPA Payments
TOP
Single Euro Payments AreaThe Single Euro Payments Area (SEPA) is an initiative of the European banking industry to simplify and standardise the movement of funds across European borders.
SEPA helps to improve all payments, whether they are cross border or domestic payments.
SEPA CoverageSEPA covers 34 countries in Europe:
• Eurozone countries in the European UnionAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain.• Non-Eurozone countries in the European UnionBulgaria, Croatia, Czech Republic, Denmark, Hungary, Latvia, Lithuania, Poland, Romania, Sweden, UK• EEA (European Economic Area) membersIreland, Liechtenstein, Norway• Additional countriesMonaco, Switzerland, San Marino
5 Simple Benefits of SEPA
1. Faster and Simpler Payments.2. Reduce Cost and Risk.3. Improve your Cash Flow.4. Lower Transaction Fees.5. Easy to collect Direct Debit from
anywhere in the SEPA.
Who will Benefit?
ConsumersMerchants
BanksPayment Sector Suppliers
Corporates
5 Features of SEPA Regulation
1. The payment account identifier must be the IBAN.2. The standard for message formats must be the
ISO 20022 XML Standard.3. The remittance data field must allow for 140
characters.4. Remittance references information must be
passed in full between PSPs in the payment chain.5. Payment transactions must allow for fully
automated, electronic processing.
Feel free to contact us and know more benefits about SEPA
Payments.
AccessPayCEC Winchester House,
Crawford Place,259-269 Old Marylebone
Road,London,
NW1 5RA
+44 (0)20 3282 7152 | [email protected] | accesspay.com