North Macedonia Joins Single Euro Payments Area (SEPA)

North Macedonia has taken a significant step forward in its European integration journey by joining the geographical scope of the Single Euro Payments Area (SEPA). This development follows a positive decision by the European Payments Council (EPC) and represents a tangible impact of the EU’s Growth Plan for the Western Balkans. The plan seeks to accelerate the region’s socio-economic integration with the EU by granting progressive access to specific areas of the single market, provided there is alignment with the EU acquis Communautaire.

With this decision, North Macedonian payment service providers will now have the opportunity to join SEPA schemes managed by the EPC. This move will facilitate seamless euro transactions, reducing costs and processing times for individuals and businesses in North Macedonia, as well as for financial exchanges with other SEPA members. By enhancing financial connectivity, this step is expected to contribute to sustained economic growth in the country.

The European Commission has pledged continued support for North Macedonia’s financial sector, assisting in the preparation of payment service providers and ensuring further alignment with EU financial regulations.