SEPA

SEPA is the Single Euro Payment Area set up by European institutions in 2002 to simplify and harmonize payment procedures in Europe. SEPA members can make national or cross-border transfers and direct debits in any of the 36 SEPA member countries in less than 48 hours.

What is SEPA?

Related definitions

BIC

The BIC (Bank Identifier Code) is used to identify a financial institution in any international financial transaction. Each financial institution…

SDD

SDD stands for SEPA Direct Debit. It enables the collection of payments in euros in the 36 member countries of

XML

XML, for eXtensible Markup Language, is a computer language used to structure and hierarchize data using tags, to facilitate…

ISO 20022

International standard used for the exchange of financial data (payments, direct debits) between companies and banks, or between financial institutions.

PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

API (Application Programming Interface)

An API is a programming interface that enables different applications to communicate with each other and exchange data.

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