5Simple Reasons to Choose SEPA Payments

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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 | info@accesspay.com | accesspay.com