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Whitepaper: Balkan States and Moldova become a part of the SEPA Zone

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Whitepaper on the Access to SEPA for Balkan States and Moldova

Albania, Moldova, North Macedonia, Montenegro and Serbia are the first countries from a group of candidate countries to gain access to the SEPA area.

The SEPA area is a single European payment area in which credit transfers, direct debits and card payments work as easily and securely as they do domestically - borderless, efficient banking in Europe.

What implications does this have for the future of the countries concerned and for other countries in the region?

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In this whitepaper, you will read:

  • The Idea of SEPA

    An EU Initiative

    SEPA is a standardized system for cross-border payments with the aim of eliminating the incompatibility between national payment systems. This will make payment transactions faster, simpler and, above all, more efficient - the basis for the integration of the European Economic Area.

  • Why are these countires joining?

    On the road to the EU

    Joining SEPA is an official step of the EU accession process of the four countries, with the end goal full membership.

  • Advantages and Disadvantages

    The expected effects

    Streamlined payment processes, facilitated remittances, reduction of the informal economy, driving financial inclusion, protection against the fragmentation of the payments market. Initially setting the systems up can be expensive, though, and it requires a high level of expertise and scrutiny.

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