💸 SEPA expands: Albania 🇦🇱 and Montenegro 🇲🇪 say "yes" to integration and join the euro payments elite.

💸 SEPA expands: Albania 🇦🇱 and Montenegro 🇲🇪 say "yes" to integration and join the euro payments elite.

The European Payments Council (EPC) has officially approved the expansion of SEPA to include Albania and Montenegro. This move is set to simplify financial transfers in euros and reduce transaction costs between these two countries and other SEPA members.

➡️ The initiative, funded by the Instrument for Pre-Accession Assistance (IPA) and implemented by the World Bank, aims to prepare payment service providers in Montenegro and Albania, as well as in other Western Balkan countries planning to join SEPA in the near future.

👀 Who's who⁉️

🌟 The European Payments Council (EPC) is an independent international non-profit association that brings together 79 members, including payment service providers (PSPs) and their associations. Approximately 4000 banks and financial institutions participate in SEPA protocols.

🌟 The Instrument for Pre-Accession Assistance (IPA) is an EU funding mechanism that replaced the PHARE, ISPA, and CARDS programs in 2007.

🔼It's interesting to see how this will affect Russian tourists who choose Montenegro for their summer holidays... We'll wait and see.

#news #Europe

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