Already are Possible SEPA Payments between Bulgaria and Poland

Януари 27, 2014 от itFORUM

Bulgarian and Polish payment operators, BORIKA - BANKSERVICE and KIR, established reciprocal link for exchange SEPA credit transfers. The relationship is based on standards for interoperability EACHA (European Automated Clearing House Association). Agreement between BORIKA - BANKSERVICE and Krajowa Izba Rozliczeniowa SA (KIR) is an important step towards the optimization of financial flows in Central and Eastern Europe. Cooperation will provide the participating banks in settlement mechanisms with quick and efficient method of exchanging SEPA payments and increase the points reached by the two companies within a Euro Payments Area (SEPA).

SEPA initiative is the integration of the European Union. As of February 1, 2014, SEPA credit transfers and SEPA direct debits will be mandatory for all countries in the Eurozone. Bulgaria, Poland and other countries outside the Euro area the new standards will be required at a later stage - from October 2016. After completing the migration to SEPA payments, all European banks will have benefits realized through economies of scale.

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