Single Euro Payments Area (SEPA) is a common payment method in the European Union.
The Single Euro Payments Area (SEPA) is an initiative of the European Union to simplify payments within and across member countries. They established and enforced banking standards to allow for the direct debiting of every EUR-denominated bank account within the SEPA region.
In order to debit an account, businesses will collect their customer’s name and bank account number in IBAN format. During the payment…
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