What is SEPA (Single Euro Payments Area)?
The SEPA (Single Euro Payments Area) initiative makes international payments as easy and inexpensive as domestic payments.
This includes the creation of a zone for the euro in which all electronic payments are considered domestic and in which there is no difference between national and intra-European cross-border payments.
SEPA is also the perfect payment solution for European customers without a credit card or those who are reluctant to use it for online purchases.
What does SEPA allow?
- bank transfers;
- instant transfers; and
- direct debits.
SEPA Credit Transfers
With SEPA Credit Transfer (SCT), consumers can pay for their goods and services through their euro bank account to transfer money directly to the merchant’s bank account. Both the consumer and the merchant should be resident in the SEPA region (euro zone).
Payments made by SEPA are processed between countries at the same speed as they are processed domestically. For example, if you buy a product such as Generic Viagra in
United Kingdom with SEPA payment, it does not matter what country you live in (EU), it will take the same time as a payment from a United Kingdom account to another local account.
SEPA transfers are received by the recipient (seller) either on the same day or within more than one business day. This is especially convenient compared to a SWIFT payment, which can take 1-3 business days to process internationally.
Paying with SEPA by bank transfer
When customers pay for generic ED products (Cialis) via SEPA bank transfer, they will receive the payment details directly on their screen or via e-mail after they have possibly completed their orders.
Customers then log in to their own online banking environment and transfer the payment from there when it is convenient for them.
SEPA (Single Euro Payments Area) is a highly secure payment platform that is widely used in Europe. It can be integrated into any e-commerce business to provide customers with a secure and easy payment option. Money can be transferred to your supplier (vendor) without any additional fees for exchange rate conversion.