LTV broadcast Naudas zīmes (Banknotes) episode Borderless payments in Europe

Naudas zīmes (Banknotes), a series of broadcasts on the national TV channel  – episode Borderless payments in Europe.

The single currency, the euro, has been used in Europe since 2002, thereby facilitating travelling and providing many other benefits. However, the border control regarding free movement of cashless payment flow was not eliminated. When executing a cross-border transfer, Latvian banks required a reliable cooperation partner – a bank in the respective European country, where a payment had to be made. It was a common practice referred to as correspondent banking services. If the payment had to be transferred further and Latvian banks had a partner in a remote European country, several intermediary banks were involved. However, work has already been under way for several years within a special project promoting the creation of SEPA (the Single Euro Payments Area).

You will find out, what SEPA is as well as obtain information about  important events which have occurred this autumn and advantages this project has to offer to the Latvian population and businessmen, if you watch the episode of the series of broadcasts Naudas zīmes (Banknotes).