The adage ‘Money Never Sleeps’ has never been more pertinent, with money transmitted across international borders every moment of the day and night. The COVID-19 pandemic fuelled unprecedented growth in the digital payment ecosystem as consumers sought faster, more convenient means of completing transactions.
Today, consumers enjoy access to seamless payment technologies, although some businesses are facing challenges in terms of keeping up, particularly when it comes to international payments.
International payments are an essential part of international trade that demand considerable investment in innovative solutions. Technological advancements, such as SWIFT, Target2 and SEPA, mean that today’s international payment systems are more advanced than ever, processing record volumes of e-commerce and cross-border payments.
SEPA, or the ‘Single Euro Payments Area’, enables consumers to make cashless euro payments via direct debit or credit transfer to anywhere in the EU, as well as several non-EU countries. A fast, safe and efficient payment method, SEPA has contributed considerably to the competitiveness and efficiency of the European economy by harmonising standards in all participating countries and eliminating differences between cross-border and national payments.
Regulated by the European Commission (EC), SEPA was created by the European banking and payments industry with the backing of the EC, Eurosystem, national governments and other public authorities. SEPA has not only harmonised the way cashless euro payments are transacted but also completed the introduction of the euro as a single currency throughout Europe.
Owned by Edgars Lasmanis, Walletto supports SEPA transfers, providing a fast and easy solution for both outgoing and incoming SEPA payments for all its customers. With remote account opening available within just 48 hours of applicants providing all requested documentation, Walletto also enables clients to wire fund transfers from and to bank accounts and other payment systems. Walletto simplifies business transactions in the EU, enabling customers to open a payment account online and providing a single platform for all necessary payment services for business access.
In addition to facilitating SEPA transfers, which are supported by almost all EU banks, Walletto also enables customers to make SWIFT payments outside of the SEPA zone easily via an international transfer. Advantages for Walletto clients include fast and easy access to banking services; the support of qualified specialists with higher financial and legal education and more than 10 years of experience; guaranteed full financial and information confidentiality; and support in several different languages, including English and Lithuanian.
Walletto’s white label payment card program helps business owners enter the market quickly and easily. Meanwhile, personal accountholders can benefit from reloadable plastic and virtual prepaid cards.