SEPA stands for Single Euro Payments Area, a payment-integration initiative of the European Union for the simplification of bank transfers denominated in Euro. SEPA membership consists of the 28 member states of the European Union, the four member states of the European Free Trade Association and two others.

The aim of SEPA is to improve the efficiency of cross-border payments and turn the previously fragmented national markets for euro payments into a single domestic one. SEPA means that customers can make cashless euro payments to any account located anywhere in the area, using a single bank account and a single set of payment instruments.