The SEPA Credit Transfer is a payment method that allows individuals and businesses in the European Union and European Economic Area to send money in euros quickly and securely. It simplifies cross-border transactions by standardizing the process, making it easier to transfer funds between bank accounts across different countries. This system is governed by the Single Euro Payments Area (SEPA) initiative, which aims to create a unified payment market. With SEPA Credit Transfers, payments are typically processed within one business day, ensuring that recipients receive their funds promptly, regardless of their location within the SEPA zone.