Swedish-based fintech Zimpler has announced it is rolling out instant cross-border payouts across the Eurozone.

The company said the feature will allow customers to instantly send Euros to all 20 Eurozone countries through SEPA (Single Euro Payments Area), removing hidden fees and unnecessary administrative work.

Speaking on the announcement Nicolas Köllerstedt, Chief Growth Officer at Zimpler, said: “Zimpler’s cross-border payouts launch marks a significant milestone for the company, establishing a truly pan-European presence. The feature has multiple use cases in segments Zimpler already operates in such as lending, salary payouts or cashback. It is exciting to see Zimpler continue to expand and build momentum from the successful B2B payments and the paylink product launch of last year.”

Joan Migioia, Internationalisation Manager at Zimpler, added: “We recognize that SEPA payout is a highly sought-after solution for businesses operating in Europe as it offers a cost-effective, swift and secure way of sending payments. Because it is standardised, businesses can use it to make payments in the same way across countries.

“Furthermore, our API-based solution enables companies to seamlessly integrate payout functionality into their software systems, allowing for swift and streamlined processes such as salary payments, reimbursements, and lending transactions.

SEPA was created to simplify euro-denominated electronic payments across Europe and make the process of sending and receiving money safer and more efficient. The company said the new solution will be available for both B2C and B2B clients across an expanded range of European merchants.