3 ms·
I have only come across SEPA as a means of making transfers between bank accounts. Can it be used for payments too (e.g. instead of a credit card)? It is also
by graemep 2y ago
I have only come across SEPA as a means of making transfers between bank accounts. Can it be used for payments too (e.g. instead of a credit card)?
It is also single currency - Euro only, right? Swift is global.
Dealing with many currencies and laws (e.g. countries with capital controls) is very complex.
- amelius 2y agoAlso, does it support micropayments?
- mndgs 2y agoYes, min transfer 0.01 EUR
- mndgs 2y agoSEPA also works for SEK now, other EU currencies are in pipeline. Swift is just a messaging standard and a message exchange network (distributed). SEPA is that, plus a settlement system (in a nutshell). That allows for speed and much more (instant payments, request to pay, pay by phone number, credit/debit transfers, etc). You're bound to deal with currencies once you make any kind of transaction that originates in one currency and settles (finishes) in another.