Yes, that's correct it's a protocol, it's under the hood. You won't see a SEPA Branding (or "Faster Payments" in the UK).

It's for bank transfers between accounts, which could be in the same country, or not. If you do a bank transfer of e.g. a 3-digit sum, and it arrives the same day, that's SEPA. If it's in a few seconds, that's SEPA Instant (1).

The grandparent post about "these capabilities" - specifically in comparison to the US FedNow -seems to cover more than just point-of-sale, right? Although that is mentioned in the SEPA Instant use cases.

1) https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta...