OpenPayd, an API-based banking as a service provider, now has direct access to the Single Euro Payments Area (SEPA) scheme. SEPA was created and adopted by EU members to make cross-border payments as easy as domestic payments. Until recently, OpenPayd had to rely on a partner bank for its SEPA capabilities. Now, with direct access to SEPA, OpenPayd can better serve its users.
“Friction with bank payment services is one of the biggest challenges for modern businesses," Adam Bialy, OpenPayd Chief Product Officer, commented in a company announcement. "It’s often painful, expensive and slow to move money around. The ability to process intra-European payments quickly is vital to a number of B2B use cases. By providing our customers with direct access to SEPA, in addition to our existing payments schemes connectivity, we’re helping our business customers meet the ever-rising demands of their customers and maintain a competitive advantage in today’s increasingly congested market.”
OpenPayd can now offer intra-EU payments faster and cheaper than before. SEPA covers 36 participating nations from the EU and EEA. OpenPayd will serve all of these with its new capability. This adds to OpenPayd's continued dedication to frictionless payments through schemes such as BACS, CHAPS, Faster Payments, and SWIFT. Speed and cost are two huge drivers in the payments space and OpenPayd addresses both of them with its access to SEPA. Visit OpenPayd's payments site to learn more.