European Commission welcomes inclusion of Moldova in Single Euro Payments Area

On 6 March, the Republic of Moldova, together with North Macedonia, joined the geographical scope of the Single Euro Payments Area (SEPA) following the positive decision by the European Payments Council (EPC). 

As a result of the European Payments Council decision, the payment service providers of Moldova will have the possibility to adhere to the various SEPA schemes which are managed by the EPC.

“This step paves the way for Moldova and North Macedonia to facilitate financial transfers in euro and reduce the cost and processing time of these transactions between their citizens, businesses and other SEPA members. It is therefore contributing to a sustained economic growth,” said a press release by the European Commission.

The European Commission also said it would continue to support the preparation of Moldova’s payment service providers and the countries’ further alignment with the EU acquis in the area of financial services. 

The European Payments Council (EPC) is an independent, international not-for-profit association formed of 83 members who are payment service providers (PSPs) or associations of PSPs. The EPC was created in 2002 by the European banking industry to develop European instruments for electronic euro payments. Today, close to 4,000 banks and other payment service providers participate in SEPA schemes.

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Press release