PASADENA, Calif. — Alternative payment solutions provider 2000Charge.com has announced that it is ready to accept the new clearing and settlement processing formats mandated in the Single Euro Payments Area (SEPA), which goes into effect next year. The initiative impacts all banks operating in 31 European countries, serving an estimated 700 million people.

"Imagine if in the United States, you could only do ACH payment s in California, New York and Florida," 2000Charge Business Development Manager Raphael Berkien told XBIZ.

"With the SEPA initiative, we can now do that in 31 countries. In Europe we were very fragmented. We had something like 51 different bank accounts so we could do business where the clients are. We're going to have a single format, whether you're in Spain, or Portugal, or Norway. It's really going to speed things up," Berkien added.

With 2000Charge’s new EUDEBIT, an all-electronic straight-through processing solution, the company will be able to process, clear and settle the new SEPA credit transfers and direct debit formats for all their merchants.

For more information, visit the 2000Charge website.