Deadline for SEPA transition in Finland was 31st of October. Visma has successfully completed the transition of Finnish customers to SEPA on a SaaS service. We have been working together with all major banks over two years. We have now over 15.000 customers in the new world of payments and close to half a million transactions so far. Our customers are now ready to start gaining the benefits of SEPA, faster payments over the boarders, savings in transaction costs, no need to use more than one bank account, reliability and common standards and rules.
For smaller businesses (SME) faster settlement and simplified processing will improve cash flow and reduce costs. It will enable them to receive or make euro-payment anywhere within SEPA on the same basis.
For large merchants and corporations, common standards enable the construction of one standard platform for payments in the whole SEPA resulting in major savings. For example, one single file in a common format could be used to receive and send payments throughout SEPA.