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Journal of Competitiveness

The Impact of the Single Euro Payments Area (SEPA)

Musa Hussam

Euro, SEPA, European integration, payment systems

The Single Euro Payments Area or SEPA is the area where citizens, companies and other economic actors are able to make and receive payments in euro, within Europe, whether between or within national boundaries under the same basic conditions, rights and obligations, regardless of their location. The objective of the SEPA is to establish a pan-european market for safe, efficient processing and settlement of all euro payments, irrespective of whether the originator and beneficiary are from the same EU country, which is able to bring high service level, products and cheaper performance of payment. SEPA will enable customers to make cashless euro payments to anyone located anywhere in the euro area using only a single bank account and a single set of payment Instruments. An euro-area in which all payments are domestic, where the current differentiation between national and cross-border payments no longer exists.

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Journal of Competitiveness


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ISSN 1804-171X (Print); eISSN 1804-1728 (On-line)

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