One year after the Republic of Macedonia joined the Single Euro Payments Area (SEPA), citizens and businesses are already benefiting from faster, simpler and more efficient euro payments. Joining SEPA marked a major reform of the payments system, bringing the country’s legal and institutional framework into line with European standards. Following its implementation by the National Bank and the banking sector, the reform is now translating into tangible benefits for citizens and businesses, the Macedonian Ministry of Finance said in a press release.
“A year ago, we took a major step toward European payment standards. Today, citizens and companies enjoy faster, simpler, and more efficient euro payments. The Ministry of Finance spearheaded the key reform that enabled the Republic of Macedonia to join SEPA, paving the way for practical implementation by the National Bank and commercial banks.
SEPA demonstrates that reforms are not merely about legislative changes—they translate into concrete benefits for citizens and businesses,” Macedonian Minister of Finance Gordana Dimitrieska-Kochoska said in a social media post Wednesday.
By joining SEPA, citizens and companies can make cross-border euro payments under the same rules and standards that apply within the countries of the Single Euro Payments Area. This contributes to faster, safer, and more efficient transactions, as well as to a reduction in costs associated with cross-border payments.
One year of SEPA serves as an example that the reforms being implemented yield concrete results and direct benefits for citizens and companies. The Ministry of Finance continues with reforms aimed at aligning with European standards and creating better conditions for citizens and businesses, adds the minister in her post.