SEPA Direct Debit

The SEPA Direct Debit (SDD) system provides full SEPA reachability, based on XML file exchange. The full range of the mandatory message types is supported and is run in Straight Through Processing mode. This applies to both Core and B2B. For B2B mandate management is of course also included.

The system allows for automated processing of the customer collection XML file for the pain.008 message format. These messages are then converted into the pacs.003 format for subsequent collection and clearing. Clearing results in the form of reject and return XML files in the pacs.002 and pacs.004 formats are both automatically processed.

The received Direct Debits in the pacs.003 format are also processed in full Straight Through Processing mode and possible reject and refund or return XML files in the pacs.002 and pacs.004 format are also generated when required. All these processes run in full automated mode.

Besides the actual generating of the required XML files the most important function is in the creation of the accounting interface entries.

Online balance update capabilities are provided for systems that support this function. In addition Veracity can cater for automated fiat based on the available balance data. The automated fiat system gives extensive management capabilities into the hands of account management at branch level for the handling of exceptions.

A range of charging and value dating parameters are available. The charges data are stored for periodical invoicing.