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Special rules for the cross-border payment services in euro

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  • Gavrila Simona

    () (“Dunarea de Jos” University of Galati)

Abstract

Traditionally, cross-border payment flows are processed through payment institutions which are mainly commercial banks or through bank correspondent, either through national or international payment systems, these payment systems representing the networks through which the bank institutions are interconnected. Once the transition to the single currency euro, the European Union is facing a new challenge, namely that of creating an integrated market for payment services, in conditions of effective competition and where there is no distinction between cross-border and national payments in euro, challenge which will be overcome by adopting the SEPA project.

Suggested Citation

  • Gavrila Simona, 2011. "Special rules for the cross-border payment services in euro," EuroEconomica, Danubius University of Galati, issue 29, pages 68-74, August.
  • Handle: RePEc:dug:journl:y:2011:i:29:p:68-74
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    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/982/818
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    Keywords

    cross-border payment; banks; euro;

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