Support of the SEPA procedure

Support of the SEPA procedure

With the Lisbon Agenda in 2000, the European Union laid the foundation for the creation of a common European market in non-cash payments (Single Euro Payments Area: "SEPA"). As of February 2014, the procedures offered in the euro countries for credit transfers and direct debits in euros must in principle meet the requirements defined in Regulation (EC) No. 924/2009.

In IMSWARE, the SEPA credit transfer and direct debit procedure is already included in the standard modules. All technical requirements for saving the necessary dates as well as the use of the data in the standard processes are made available. For the transitional period until 2016, the previous procedure is possible in parallel. Even after that, the previous information on bank details will be maintained to serve for payment transactions outside the Eurozone.

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