Dimitrieska-Kochoska: Macedonia joins SEPA, a major step forward in improving the business and living environment, making payments to the EU more affordable for both the citizens and the businesses

7^th October 2025, Skopje - As of today, citizens and businesses in the Republic of North Macedonia can benefit from the country’s inclusion into SEPA (Single Euro Payments Area).  The European Payments Council has approved the applications of nine domestic banks to join the SEPA Credit Transfer scheme, operational within SEPA, with the remaining three banks expected to join by the end of the year.

 “This milestone marks the country’s inclusion in the Single Euro Payments Area (SEPA), enabling citizens and companies to make euro payments under the same conditions as those in EU member states. SEPA membership is expected to bring a range of benefits for individuals, businesses and the economy as a whole– above all, faster, safer and more cost-efficient cross-border euro transactions. This is particularly relevant for the Macedonian economy, given its high degree of trade openness and large volume of cross-border payments. The potential for cost savings, boosting liquidity and greater competitiveness among businesses is therefore considerable. This step is expected to play an important role in advancing trade integration, accelerating economic growth and narrowing the income gap with the European Union”, Minister of Finance, Gordana Dimitrieska-Kochoska, said.

She underscored that a pivotal step in implementing this reform was the adoption of the Law on Payment Services and Payment Systems, prepared by the Ministry of Finance and submitted to the Government, together with the bylaws adopted by the National Bank to ensure its implementation.

 “This project marks a major step forward in improving the business and living environment in Macedonia, aligning the country’s standards with those of the European Union. The Ministry of Finance and the National Bank will remain committed to continuing reforms aimed at supporting economic growth and improving services for both the citizens and the businesses,” the Minister stated.

The country submitted its application to join SEPA on 10^th July 2024, and on 6^th March 2025, the European Payments Council approved the request, enabling the domestic banks to participate in SEPA payment schemes that facilitate euro transactions. SEPA currently comprises 41 European countries.