The European Commission has make a proposal to extend the period for the full transition to SEPA by six months. This means that until 1st August 2014, banks may continue to accept corporate payment files in local payment formats (e. g. DTAUS, ATI etc.), alongside payments in SEPA XML format.
Explaining the background to this decision, EU commissioner Michel Barnier stated that the levels of corporates who are prepared for the new format - especially for direct debits - are not considered high enough to ensure a smooth transition and to avoid disruptions in payments. More details can be found in the press release of the European Commission. The new proposal means that more time remains for all parties involved to convert their systems to the new formats and processes.
Using Omikron solutions, large numbers of corporates and banks throughout Europe have already completed the migration to SEPA. With our longstanding experience in European e-banking and our mature product range, Omikron is in an excellent position to smoothen the path to the SEPA world :
- The MultiCash product range provides everything needed to cope with the SEPA migration and to exploit the benefits of the SEPA payment mechanisms
- With powerful converter solutions and a sophisticated mandate administration, SEPA direct debits do not present any problem any longer
- The SEPA Test Centre allows a corporate’s SEPA workflows to be simulated precisely and assists the creation of clean and correct XML files in the corporate’s ERP systems
Make sure you become ready for SEPA quickly and easily using these and other Omikron solutions : Please contact us.