1. Product Introduction
The SEPA Payout Product allows merchants to quickly and securely send Euro funds to bank accounts within the European Economic Area (EEA) through a single integration. SEPA (Single Euro Payments Area) was established by the EU and its member countries to promote unified and convenient Euro payments, offering efficient and low-cost payment solutions. With SEPA payments, merchants can transfer Euros between any bank accounts within the EEA, increasing transaction efficiency and avoiding additional currency conversion and cross-border payment fees.2. Capability Description
3. How to Use
When a merchant makes a payment using SEPA, the following recipient information must be provided, and the payment request will be transmitted through the SEPA network to the recipient bank.- IBAN (International Bank Account Number) of the recipient account
- SWIFT Code (BIC) of the recipient bank
- Beneficiary Name
- Beneficiary’s Residential Address