Cross-border payments

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Definition

A cross-border payment occurs when the buyer and seller are located in different countries. For example, the payment of an import from a French company from the United States can be qualified as a cross-border payment.

Typology of cross-border payments

There are two criteria to consider when making a cross-border payment: the payment method and the currency used.

For France, there are two types of currencies

Euro
other currencies

Regulation

All debits in Euros are governed by the Single European Payment Area (SEPA) regulation, which designates the Single Euro Payments Area. This project aims to create an integrated European payments market for companies and individuals who make or receive payments in euros. The SEPA zone corresponds to the European Community, with the addition of Andorra, Iceland, Switzerland, Monaco, Liechtenstein and Norway. For other currencies and countries, there are no supranational regulations, which raises issues regarding the cost and speed of settlement of transactions.