The Georgian government is preparing to join Single Euro Payments Area, SEPA

The Georgian government is preparing to join Single Euro Payments Area, SEPA – Georgian PM

29/08/2022

19:58

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“We are preparing to join the Single Euro Payments Area, SEPA, allowing customers make cashless euro payments – via credit transfer and direct debit – to anywhere in the European Union, as well as a number of non-EU countries,” - Prime Minister Irakli Gharibashvili announced on Monday.

According to the Prime Minister, 27 member states of the European Union, as well as Great Britain, Switzerland, Norway, Iceland and Liechtenstein are members of this organization.

Irakli Gharibashvili noted that all of the government agencies are working in this direction, and after the government session, three draft laws will be submitted to the parliament for approval.

“This will be a great benefit for our citizens,” - the PM said.

SEPA was introduced for credit transfers in 2008, followed by direct debits in 2009, and fully implemented by 2014 in the euro area (and by 2016 in non-euro area SEPA countries).

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