EBICS – on the way to the European market standard

Night view of EuropeAxel Weiß, Chairman of Board of Directors EBICS

Since 1995, corporate customers in Germany have handled payment transactions securely with every bank via a standard product and an electronic signature.

Already in 2003, the enhancement of the DFÜ Agreement was initiated by an internet-based version This variant of the DFÜ procedure was called EBICS “Electronic Banking Internet Communication Standard”. With this extension, the German banking industry met the requirement of customers and institutes for internet-based solutions in electronic banking.

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EBICS and mobile payments in France

Sign Up Concept

Photo: © Krasimira Nevenova – Fotolia.com

In the “EBICS – a European standard for mobile payments” series, we will examine the situation in France.

A mobile solution allowing all users to sign for transactions remotely – in compliance with the EBICS TS protocol – would satisfy the requirements of the increasing number of “nomadic” signatories who are hoping that mobile banking with EBICS will soon finally become a reality.

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High-availability payment transactions with EBICS and SWIFT

KarabinerverbundEuropean inter-bank payment transactions move several trillion euros a day. This gigantic volume is processed bilaterally via national and European clearers such as TARGET2, STEP2 and SEPA-Clearer. The unobstructed flow of money is essential for the economy and for our entire way of life. For this reason, the IT systems involved are highly security-critical. Only the redundant use of the two transport protocols EBICS and SWIFT provides the necessary high-availability transport.

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EBICS as the European standard for mobile payments?

Smartphone pay_002With all the developments currently taking place in mobile payments, it’s easy to get lost. New solution providers are almost sprouting like mushrooms and there’s a whole maze of technical standards. In a growing field of business, banks risk being left behind. Could a European standard such as EBICS be an answer?

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“EBICS as a service” – An operating model for small and medium-sized financial institutions

Switzerland Finance ConceptIt is actually undisputed that EBICS will establish itself as a transaction banking protocol in Switzerland. Major banks and larger cantonal banks already offer EBICS or are in the process of implementing an EBICS interface for their business customers. The next step would be a shared-use “EBICS as a service” platform, for which there is currently no provider.

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EBICS event in Luxembourg met with great interest

Top view of beautiful Luxemburg cityThe EBICS standard is currently gaining ground in Europe. That’s why experts are also taking an interest in the financial centre, Luxembourg. Payment transaction experts from the field and IT departments of Luxembourg banks met there on 28th January 2015 to learn more about EBICS. They had been invited to the event, entitled “EBICS – A New Communication Protocol for Payment Activities”, by the Luxembourg banking association, ABBL.

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EBICS and bank/company exchanges using SEPAmail™

SEPA - Single Euro Payments Area with euro currencyOn the initiative of large French banks (BPCE, CM-CIC, Société Générale, BNP Paribas, Crédit Agricole), SEPAmail™ has been designed to facilitate electronic exchanges between economic institutions of non-accounting documents for payments such as invoices, mandates, advices etc., using flows. This secure messaging system between banks therefore allows traditional payment operations (transfers, debits, etc.) to be carried out with new payment services geared towards client use.

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