What is our company required to do in order to implement SEPA payments?

In order to use the advantages of the payment and direct debit files in the SEPA XML format, it is necessary to guarantee the following:

1. On the electronic channel side:

  • MultiCash - you must have the SPA or CAMT module at your disposal for delivering the SEPA XML statement, we recommend you to have installed the PST module for transaction status management. Guidance here

2. On your accountancy side it is important to:

  • verify the up-to-dateness of your current accounting system with regards to its readiness to generate payment (or debit) files in the SEPA XML structure
  • ensure your business partners, employees and other domestic (BBAN) payment receivers change their accounts into the international IBAN (International Bank Account Number) format with the counterpart's bank identification through the BIC (Bank Identifier Code) code