Create, convert, manage, and validate payment messages for compliance with SEPA credit, Direct Debit, and B2B payment schemes.
The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in Euros. Compliance with SEPA requires adherence with scheme rules whether processing debits (SCT) or credits (SDD). This means ensuring that data is structured correctly in the ISO22022 file format, and that the correct beneficiary account details are used and in the correct IBAN format. Collecting Direct Debits and managing the associated mandates according to core or B2B rules also need careful control.
For organisations that need to use SEPA for their credit transfers, Bottomline offers a suite of solutions to enable compliance for the data required by their bank. This includes IBAN validation and conversion, file formatting, workflow, and, through our financial messaging expertise, transfer of data to their bank. For SEPA Direct Debit, our solutions assist in end-to-end Direct Debit mandate management for core and B2B, mandate dematerialisation, and distribution.