T24 SEPA Module

The TEMENOS T24 SEPA Module offers complete SEPA compliance – enabling you to focus on developing added-value services.

The Single Euro Payments Area (SEPA) is an initiative to create a zone for the euro in which all electronic payments are considered domestic i.e. both national and intra-European cross border payments are treated in the same way. SEPA aims to improve the efficiency of cross border payments by enabling customers to make cashless euro payments to anyone located anywhere within the area using a single bank account and a single set of payment instructions.

The creation of this single domestic market for euro payments includes the development of common financial instruments, standards, procedures and infrastructure in order to achieve economies of scale and to enable circulation as easily, quickly, securely and efficiently as in domestic markets today. The benefit to the European economy will be the reduction in the overall cost of moving capital around the region. The SEPA legal framework is being adopted by more than 30 countries within the Eurozone.