SEPA (Single Euro Payments Area)

SEPA has already simplified and standardised all cashless payments in European business transactions since 2014. Nevertheless, there is still need for action in many companies. This is partly because changes and amendments are continually being made. With its broad knowledge in the field of payment transactions, it-economics has already successfully helped many customers from the financial and insurance industry with the introduction of SEPA.

SEPA: Have you reached your objective?

  • Have you implemented all internal processes?
  • Have you implemented R-transactions and, if so, can you manage them with ease?
  • Do you work with checks that still need to be converted?
  • Are your account statements legible again, or do you know what your SEPA payments look like on your customers' account statements, and are you satisfied with that?

In order to give you competent advice and tailored product solutions regarding the issues of SEPA processing, mandate management and e-mandates, we work together with renowned partners.

Overview of the changes to the rulebook, November 2016:

Minimum due date for CORE direct debits:

The minimum due date for all SDD CORE direct debits is reduced to one TARGET2 business day. Thus the COR1 option expires on 21 November 2016. The due dates for submission to the Federal Bank must be observed.

Identification of first debits:

With the SDD Core Rulebook 9.1, the sequence type "FRST" must not be used either for CORE debits or for B2B debits.

Change code in the mandate upon changes of bank details:

If a mandate continues to be used after a change of bank details, then the code "SMNDA" (= "same mandate new debtor account"; formerly: "[…] agent") is set.

Change requests for amendments of the Rulebook on November 2017:

Allow longer texts in the dataset for remittance information:

More characters shall be allowed for structured or unstructured remittance information. Up to 1,120 characters (= 8 * 140 characters) shall be allowed in the dataset. This will prevent multiple partial payments resulting from inadequate options for representing invoice data. However, this will likely lead to rendering problems in account statements, online banking and other media.

Optional transmission of a pre-notification:

The payee shall be given the right to choose to send pre-information to the payer. This would make things easier for the payee. Since invoices, contracts etc. already perform the function of pre-information, it is merely additional information. Nevertheless, this would weaken consumer protection.

Harmonisation of national customer–bank formats:

Harmonisation of the national customer–bank formats for SEPA payments would increase efficiency. The EPC has created a harmonisation suggestion. Payment service providers shall be obliged to support this as a minimum standard, irrespective of the national formats.

Our range of services:

We offer the following services in relation to SEPA:

  • Support on analysis, requirements management, development, project management and implementation of your SEPA and payments strategy.
  • Identification of new market opportunities and suggestions for your Europe-wide business development.
  • Support on analysis, requirements management, development, project management and implementation of the Rulebook changes.
  • Support on tests and test automation for the various XML formats

Would you like professional advice?
Our consultants will be glad to arrange a one-on-one consultation with you

Via E-Mail: payments(at)
Via Phone: +49 89 215 488 0-0