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.
Related definitions
API (Application Programming Interface)
An API is a programming interface that enables different applications to communicate with each other and exchange data.