SEPA - key facts and information
SEPASingle European Payments Area Key Facts and Information What is SEPA? It is a payment-integration initiative of the European Union designed to improve the efficiency of cross-border payments. Covering 33 cOuntries in Europe. thats 25 million meaning that 500 million consumers will be companies. affected by SEPA! What if l'm not SEPA ready? • You won't be able to pay creditors in time • There will be delays in receiving payment from customers • There will be delays in reconciling creditor and debtor ledgers what are the Benefits of SEPA?. .1 common standard • No more than I bank account required • Lower transaction fees due to economies of scale. • Higher automation levels and improved exception handling. • Opportunity to review and streamline account structures. • Increased payment narrative and description fields. • Opportunity to route payments to countries offering the most attractive terms eg. no interchange fees. • The ability to collect Direct Debits from anywhere in the SEPA. • The ability to target new customers in new territories. AccessPay For more information visit www.accesspay.com Payment and Cash Management
SEPA - key facts and information
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