EuroPay is the latest initiative of Smart2Pay to facilitate pay-ins within the European Union and other countries for merchants to collect funds. EuroPay represents the fruitful combination of an IT system and a business process designed and envisioned to offer a convenient payment method for customers within the EU and other countries where local bank transfers are commonly used.

The EuroPay payment system offers consumers an alternative payment solution to normal electronic funds transfer via credit card through a network of local bank accounts. This solution enables merchants to accept bank transfers from consumers.

Accepting bank transfers has traditionally been a costly manner to collect funds mainly because bank transfer fees to international merchants are high for consumers and merchants.

EuroPay offers consumers the possibility to transfer money to the online merchants at a much lower cost by a normal bank transfer using their local bank.

Local Bank Transfers are the most commonly used payment method for a consumer outside of the US. It is a push mechanism whereby the consumer instructs the bank via internet, phone or physical mail to transfer funds to a beneficiary. Local Bank Transfers are cost effective and relatively fast.