The SEPA vision is supported by Europe's banks working together towards the integration of euro payments markets through the European Payments Council (EPC).

The purpose of EPC is to support and promote a single harmonized, open and interoperable European domestic payments market achieved through industry self-regulation.

The SEPA schemes define a set of interbank rules and standards that have to be observed when executing a payment transaction.

These rules provide a common understanding between banks (payments services providers) on how to move funds from account A to account B within SEPA. The EPC is responsible for the development and maintenance of SEPA payment schemes.