Payment by bank card is undoubtedly the most widespread form of electronic payment today worldwide. SEPA, or Single Euro Payments Area, aims to allow any user to make payments and withdraw cash within the SEPA zone with the same ease and security as in the home country.
This standardisation of card payment systems implies the adoption of common rules to be able to offer services that are compatible throughout SEPA.
For cardholders, SEPA involves:
- The ability to use their card in all SEPA countries, provided the terminals there are equipped with a SEPA-compatible system.
- A high level of security in usage, thanks to the combination of the electronic chip and personal identification number, identical to that from which cards issued in Belgium already benefit.
- Standard functioning, whether the payment is carried out in Belgium or in any other SEPA country.
- Identical transaction costs for any payment in euros.
Thanks to the Maestro function, debit cards issued by BNP Paribas Fortis from now on provide the benefits of all advantages offered by SEPA.
For retailers, SEPA means that:
- all customers from a SEPA country will be able to carry out card payments without any additional expenses;
- thanks to the Chip & PIN combination, European card payments will enjoy the same level of security that Bancontact/MisterCash offers at present.
An important date
Since the end of 2010, all participating countries have equipped their bank cards with the European security standard. All sales outlets can accept these cards.
Find out more about SEPA in general
Find out more about the impact of SEPA for your country