SEPA inaugurated a new era in transactions in euro. SEPA is the acronym of "Single Euro Payments Area". It is the outcome of the European banking community effort to create a single euro payments area for the non-cash payment instruments, that are credit transfers, direct debits, credit/debit cards.
Piraeus Bank S.A. participated since the very beginning in the preparation of the banking community whereas from the very first day of operation of the pan-European system, SEPA, the Bank offered transactions for credit transfers through its network of branches, the winbank internet, as well as EMV Chip technology Credit Cards currently accepted at all countries participating in the SEPA. At the same time, the Bank upgraded all privately owned EFT/POS terminals and ΑΤΜs so as new technology credit and debit cards are accepted.
SEPA represents the next step of the introduction of the common European currency toward an integrated, competitive and innovative euro area retail payments market. It will strengthen competitiveness by continuously developing innovative practices/products and benefit all trading parties, consumers, companies, public authorities and public administration whereas it will facilitate transactions within the Euro area payments market.