SEPA Insights | Sumble

What is SEPA?

SEPA, or Single Euro Payments Area, is an initiative of the European Union to simplify bank transfers denominated in euro. It allows citizens, companies, and other economic actors to make and receive payments in euro within Europe, under the same basic conditions, rights, and obligations, regardless of their location. SEPA includes credit transfers, direct debits, and card payments.

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What other technologies are related to SEPA?

SEPA Competitor Technologies

CHAPS

CHAPS is a UK-based high-value payment system. While SEPA aims for Euro payments within Europe, CHAPS handles GBP payments in the UK, so it serves a similar purpose within its region.

mentioned alongside SEPA in 45% (330) of relevant job posts

Target2

TARGET2 is a real-time gross settlement system for Euro payments within the Eurozone. While SEPA facilitates credit transfers and direct debits, TARGET2 handles large-value payments, potentially overlapping in some use cases.

mentioned alongside SEPA in 57% (232) of relevant job posts

BACS

BACS is a UK payment system for direct debits and credit transfers. While SEPA aims for Euro payments within Europe, BACS handles GBP payments in the UK, so it serves a similar purpose within its region.

mentioned alongside SEPA in 29% (225) of relevant job posts

Faster Payments

Faster Payments (FPS) is a UK payment system for near real-time payments. While SEPA aims for Euro payments within Europe, FPS handles GBP payments in the UK, so it serves a similar purpose within its region.

mentioned alongside SEPA in 41% (136) of relevant job posts

Instant Payments

Instant payments schemes in different countries (including SEPA Instant Credit Transfer (SCT Inst)) offer immediate payment processing, serving as an alternative to standard SEPA credit transfers which are not instant.

mentioned alongside SEPA in 39% (129) of relevant job posts

ACH

ACH (Automated Clearing House) is a US-based electronic funds transfer system. While SEPA aims for Euro payments within Europe, ACH handles USD payments in the US, so it serves a similar purpose within its region.

mentioned alongside SEPA in 9% (334) of relevant job posts

FPS

FPS (Faster Payments Service) is a UK payment system for near real-time payments. While SEPA aims for Euro payments within Europe, FPS handles GBP payments in the UK, so it serves a similar purpose within its region.

mentioned alongside SEPA in 23% (125) of relevant job posts

Instant Payment

Instant payments schemes in different countries (including SEPA Instant Credit Transfer (SCT Inst)) offer immediate payment processing, serving as an alternative to standard SEPA credit transfers which are not instant.

mentioned alongside SEPA in 39% (71) of relevant job posts