Local payment networks are a type of financial network that allows for the transfer of funds between banks and other financial institutions. Local payment networks can be used to make payments between consumers, businesses, and governments.

Local payment systems provide benefits such as:

1. Improved efficiency in processing payments;

2. Lower costs for participants; 

3. Greater transparency in transaction data

SEPA（Single Euro Payments Area）

SEPA is a payment system that allows you to make and receive payments in euros within Europe. It's an alternative to traditional methods like wire transfers, which can take days or even weeks.

SEPA is available in all 28 countries of the European Union (EU), as well as Iceland, Norway and Switzerland-a total of 31 nations altogether. It's also being adopted by other non-EU countries such as Montenegro and Serbia.

ACH（Automated Clearing House）

ACH, or Automated Clearing House, is a network that allows for the real-time transfer of funds between banks. ACH has been around since the 1970s and has become an integral part of how businesses and consumers move money around the world.

A number of countries have adopted ACH as their primary method for processing payments: Australia, Canada, Mexico, and New Zealand all use it extensively; it's also used in parts of Europe and South America (though not as much). In addition to being faster than other options like wire transfers or checks (which can take several days), ACH offers several advantages over other methods.

Fedwire

Fedwire is a real-time gross settlement system (RTGS) operated by the Federal Reserve Banks to facilitate the transfer of funds between depository institutions. It's used by banks, broker-dealers, and other financial institutions to send and receive payments in U.S. dollars.

Fedwire was established in 1974 as an electronic funds transfer service to replace paper checks as the primary means of settling large-value transactions between banks. The Fedwire network consists of more than 10,000 member banks and provides access points at over 5,000 locations worldwide through which members can exchange funds electronically with each other 24 hours a day, seven days per week.

FPS(Faster Payment Service)

The Faster Payments Service is a real-time payment system that enables you to make and receive payments online, via mobile, or in-store. It's available to businesses and individuals in the UK, with plans to expand internationally later this year.

Faster Payments was developed by the UK's banking industry, which wanted an efficient way for consumers and businesses alike to send money quickly and securely across borders without having to wait days or even weeks for their funds. The service was launched in 2008 after two years of development at an estimated cost of about $1 billion USD (about $1.3 billion CAD).

Local payment networks have several advantages when compared to Swift.

Firstly, local payment providers use a network of local bank accounts all over the world to get access to domestic payment schemes, allowing them to cut out intermediary banks and thus unnecessary fees.

Local payments do not include any hidden fees, and through a local bank transfer, customers pay lower fees as they save on foreign exchange and other costs associated with other methods of cross-border transfers. 

Additionally, local channels can be cheaper than SWIFT channels because they are free of any receiving bank charges, and beneficiaries receive their funds in full. They are also getting much faster, especially with providers such as Wallex, as they continuously strengthen their cross-border payments network and offer near real-time transfers through them.

Epay provides different local payment networks to make cross-border remittance easier and cheaper

Epay is a leading payment provider which offers more than 80 types of local currency for companies and individuals to pay, receive and exchange via local bank transfers.

If you want to transfer money to the United States, Europe, or Russia, or if you want to receive money from South America like Brazil, Chile, Mexico, Argentina， Korea, or Nigeria, you can transfer by Epay local bank transfer system rather than international wire transfer. Epay is a great way to save time and money when doing cross-border business or making an overseas money transfer. 

Epay also opens company-named multi-currency bank accounts for the company to hold, send, and receive foreign currencies via local payment networks. Currently, you can open company-named bank accounts in the following countries and regions:

Korea, Europe, British, Hongkong, Singapore, Canada, Australia, and the United States.

Anyway, when you can avoid Wire Transfer, avoid it. A local payment network is a better choice.