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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SEPA Card Clearing – What does it have to do with EBICS?

Mann zahlt mit Kreditkarte im Supermarkt

© Robert Kneschke / fotolia.com

Card payments, in addition to the Credit Transfer and Direct Debit administrative operations, are affected to a certain extent by the standardisation of payment transactions within the SEPA Single Euro Payment Area, whereas they were previously exchanged in national formats. The following article explains what this has to do with EBICS.

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Portugal in the age of EBICS

portugese euro

Foto: © Hugh O’Neill – fotolia.com

Just like the French banks in 2009 and the German banks in 2008, numerous Portuguese banks have decided to use the EBICS protocol for their exchange of financial flows with companies.

Two principal reasons have motivated this change:

1. The planned cessation of network X25 by Portugal Telecom from 30th June 2014,

2. The inability of certain protocols, utilised until now, to transfer files comprising records of varying sizes, as is the case with SEPA formats.

The Portuguese banks therefore had to suggest to their client companies a substitute exchange channel which was accessible, secure, inexpensive and operated across borders. Continue reading

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Standardisation of payment transactions is still a distant reality


Foto: © hainichfoto – fotolia.com

In Europe we have now already introduced SEPA for the standardised payment transfer system. However, SEPA payments cannot be made electronically to just any European bank of one’s choice. In Germany companies use the order type CCT for submitting SEPA transactions (SEPA Credit Transfer) to financial institutions. Why are SEPA transfers from any Euro country with this order type not automatically possible?

The XML-based SEPA data formats have now been comprehensively adopted in the European countries involved. The goal was, and remains, to standardise data formats and regulations surrounding payment transactions after the introduction of the single currency, thus allowing a simpler electronic payment medium for within Europe. Continue reading

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