SEPA (Single Euro Payments Area) is an initiative to simplify and streamline euro payments across participating countries in Europe. It enables individuals and businesses to make and receive credit transfers and direct debits. SEPA includes 36 countries and supports both one-time and recurring payments.
SEPA is usually one part of a broader payment processing strategy. Because it is limited to countries in Europe, global sellers need other payment methods — like debit and credit cards — to reach customers in other regions. If you operate a business in Europe and use traditional wire transfers, SEPA might be a useful alternative with lower fees and faster timelines.
To use SEPA, you’ll need to know your international bank account number (IBAN) and a bank identifier code (BIC).
For more than a decade, Jessica Velasco has been a thought leader in the payments industry. She aims to provide readers with valuable, easy-to-understand resources.
