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SEPA Session info ERPBanque nationale de Belgique - 15/04/2013
MOB ERP/IT - 15/04/20132 / 34
PSD & SEPA
Payment Services Directive (PSD)► Legal framework for payments in the EEA► Introduced by the EC – transposed into national law► Purpose:● raise the level of protection for consumers (right to a refund)
● guarantee better execution times for payments
● increase transparency of fees and commission
● provide a legal framework for SEPA
► Scope:● new SEPA products
● existing payment schemes, such as DOM80
MOB ERP/IT - 15/04/20133 / 34
PSD & SEPA
Single European Payments Area (SEPA)► Initiative of the European Commission,
supported by the ECB and the EPC.► Applies to the countries of the EEA +
Switzerland + Monaco (the SEPA zone)► Standardisation of payments in EUR ● SEPA Credit Transfer
● SEPA Direct Debit
● SEPA Cards
MOB ERP/IT - 15/04/20134 / 34
SEPA - End date regulation
2009 2010 2011 2013
Start SCT
"End Date Regulation” voted by European Parliament & endorsed by EC
(Feb 2012)
Start SDD
SDD
SCT
2014
End Date for domestic tools
(Feb 2014)
In 1 year
Local systems
… …2008 2012
Today
MOB ERP/IT - 15/04/20135 / 34
SEPA - End date regulation
Schemes
Formats
Consumer protection
• End of domestic CT and DD schemes in euro countries as from 01/02/2014
• Mandatory use of ISO XML 20022 format to banks as from 01/02/2014
• IBAN mandatory as from 01/02/2014
• BIC no longer required for domestic transactions as from 01/02/2014
• BIC no longer required for cross-border transactions as from 01/02/2016
• New protection measures for direct debits consumers
(white/black list, limit amount, etc.) as from 01/02/2014
MOB ERP/IT - 15/04/20136 / 34
SEPA - XML
► http://www.febelfin.be/nl/betaalverkeer/richtlijnen-en-protocollen
XML Tag Occurrence Nom
FinancialInstitutionIdentification
<FinInstnId> [1..1] TAG
BIC {Or <BIC> [0..1] BIC-format
Other Or} <Othr> [0..1] TAG Identification <Id> [1..1] Max35Text
Ou le BIC, ou Other > Identification doivent être utilisés. Le Bank Identifier Code (BIC) se compose de 8 ou 11 caractères, dont seuls les 8 premiers sont significatifs. Seule la valeur “NOTPROVIDED” est permise pour Other > Identification.
MOB ERP/IT - 15/04/20137 / 34
SEPA - IBAN
► http://www.swift.com/solutions/messaging/information_products/directory_products/iban_format_registry/index.page
SEPA Credit Transfer
MOB ERP/IT - 15/04/20139 / 34
Graphic 1: Transfers in SEPA format (2008 - February 2012)
(% of the total number of bank transfers)
Sources: European Central Bank (ECB) and the Centre for Exchange and Clearing (CEC).
MOB ERP/IT - 15/04/201310 / 34
SCT Migration Project
1. January 2008 : SCT Start – up
2. October 2011 : End of Legacy Paper Acceptance (BE)
3. 2011 – 2012 : Communication campaign Febelfin / NBB
4. End Date : 01/02/2014 no domestic payments types can be used
10
37%to go
MOB ERP/IT - 15/04/201311 / 34
SCT Migration Client Impact
► Clients must use the IBAN
► Clients must provide the BIC● Domestic payments: until 01/02/2014● Cross-border payments: until 01/02/2016
► Clients must use the ISO20022 payment standards, when initiating payments by file upload
● Important change with regards to Domestic Credit Transfer: Beneficiary name is a mandatory field for all SCT payments
► Reporting:● Clients should upgrade to CODA v2.3● Clients may request XML reporting as of 01/02/2014
SEPA Direct Debit
MOB ERP/IT - 15/04/201313 / 34
Migration to SDD in Belgium(July 2011 - July 2012)
Sources: European Central Bank (ECB) and the Centre for Exchange and Clearing (CEC).
(% of the total number of transactions)
MOB ERP/IT - 15/04/201314 / 34
SDD transactions in Europe
Source: ECB
(% of the total number of transactions)
MOB ERP/IT - 15/04/201315 / 34
Breakdown of the total direct debit mandates on the total number of creditors registered in Belgium
(in percentage)
100%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% M
anda
tes
Number of companies
MOB ERP/IT - 15/04/201316 / 34
Mandate management - SDD vs DOM80
2) Prenotification (bill)
New!!
Debtor
Creditor bankDebtor bank
5) Debit
1) Mandate
6)
4)
3) XML collection file + MRI
Creditor
4) collection
6)
Clearing & settlement mechanism
New!!
Debtor
Creditor bankDebtor bankMandate management
CreditorMandate management
6) Credit
1) Mandate
Informs
Debtor bank
1b) mandateconfirmation
B2B!!
MOB ERP/IT - 15/04/201317 / 34
Mandate management - Migration from DOM80 to SDD
► Possible to keep existing mandates on transition from DOM80 to SDD Core
► Existing mandates are kept at the debtor’s bank► Once the mandate has been migrated, it is
impossible to return to DOM80► A creditor can use DOM80 and SDD Core alongside
each other (but not for the same mandate)
► New mandates are required on transition to SDD B2B
MOB ERP/IT - 15/04/201318 / 34
Mandate management - Migration from DOM80 to SDD
► DOM80 data are uploaded by the debtor banks according to a predefined calendar
► Those data are enlarged with IBAN and BIC► Creditor banks can download DOM80 data as
often as they wish► Once a creditor begins with its migration
code M/S: avoid creation of new DOM80 by debtor banks
► Once a creditor finished its migration form to NBB: removed from the file
MOB ERP/IT - 15/04/201319 / 34
End date regulation
End date = 01/02/2014
Belgian banks did not ask a waiver on the Member State options
MOB ERP/IT - 15/04/201320 / 34
Member State Options
Article 16.6 Postponement of the Leading IBAN principle for national Transfers and Direct Debits to 01/02/2016
Article 6.4
End dates for national Credit transfers & Direct Debits 01/02/2014
Member states are allowed to opt for an earlier adoption than the stated end dates
Article 16.1
Conversion services for national payment transactions
BBAN -> IBAN for consumers - Germany, Spain
Non-consumers must provide the correct IBAN to the PSP
Article 16.5
Format conversion services local format -> XML
(batches converted internally by the PSP into XML) - Spain, Italy
Articles 16.3/16.4
Niche products market share less then 10 % postponed to 01/02/2016
ELV Direct debits: in the frame of direct debits linked to the use od debit cards 01/02/2016 - Germany, Spain, France
MOB ERP/IT - 15/04/201321 / 34
3 LEVELS Group Header « Group header » (FILE)
Payment Information 1
Payment Information 2
Payment Information 3
« Payment Information »(BATCH)Transaction Information 1
Transaction Information 2
Transaction Information 3
Transaction Information 4
Transaction Information 5
Transaction Information 6
« Transaction Information »(PAYMENT)
XML structure
File structure
MOB ERP/IT - 15/04/201322 / 34
XML structure
XML and only XML
For each DD batchSame Due DateSame Sequence Type:
First (D-5)Recurrent (D-2)Final (D-2)One-off (D-5)
Same Scheme
MOB ERP/IT - 15/04/201323 / 34
Test your files !
► Tools are available at banks side to test your XML files► Your files can be analysed► Errors are explained► Validation is proposed
MOB ERP/IT - 15/04/201324 / 34
Lifecycle of the sequence types
1.
SDD Sequence type sent by the Creditor
Type of R-trx
Before Due Date: Pacs.002 Reject or Request for Cancellation (RFC)
Camt.056
After Due Date: Pacs.004 Return/Refund
Next collection with same mandate based on R-transaction received
First Reject/RFC First
First Return/Refund Recurrent
Recurrent Reject/RFC/Return/Refund Recurrent
Last Reject/RFC Last
Last Return/Refund Mandate expired.
One OFF Reject/RFC One OFF
One OFF Return/Refund Mandate expired
MOB ERP/IT - 15/04/201325 / 34
Reporting
► The management of the files/batches and transactions has an impact on the reporting
► Booking at batch level► If customer has a “global” parameter, he can also ask
for details of the batch (request is made to the banks)
MOB ERP/IT - 15/04/201326 / 34
Disputed authorised transactionMD06
Mandate data missing or incorrectMD02
No valid mandateMD01
Transaction code incorrect, invalid file formatFF01
Identifier of the creditor incorrectBE04
Duplication collectionAM05
Transaction code incorrect, invalid file formatAG02
DD forbidden on this account for regulatoryreasons
AG01
Account identifier (IBAN incorrect)
Account closed
AC01
AC04
Disputed authorised transactionMD06
Mandate data missing or incorrectMD02
No valid mandateMD01
Transaction code incorrect, invalid file formatFF01
Identifier of the creditor incorrectBE04
Duplication collectionAM05
Transaction code incorrect, invalid file formatAG02
DD forbidden on this account for regulatoryreasons
AG01
Account identifier (IBAN incorrect)
Account closed
AC01
AC04
“R’s” transactions
MOB ERP/IT - 15/04/201327 / 34
“R’s” transactions
Specific service offered by the debtor bankSL01
Regulatory reasonRR03
Regulatory reasonRR02
Regulatory reasonRR01
Bank identifier (BIC) incorrectRC01
Reason not specifiedMS03
Refusal by the debtorMS02
Debtor deceasedMD07
Specific service offered by the debtor bankSL01
Regulatory reasonRR03
Regulatory reasonRR02
Regulatory reasonRR01
Bank identifier (BIC) incorrectRC01
Reason not specifiedMS03
Refusal by the debtorMS02
Debtor deceasedMD07
MOB ERP/IT - 15/04/201328 / 34
The Pre-Notification
The creditor can send the pre-notification
separately or can consider the invoice as a pre-notification.
The creditor & the debtor can agree about another timing for the pre-notification.
Paper, e-mail, sms…
The provider sends to the debtor a preadvice at least 14 days
before the due date.
Pre-notificationMandate reference : 123456789Name of the supplier : Subscription Magazine ABCAmount : 57,23 eurosPayment date : every year 15th of JanuaryFirst payment : 15th of January 2009
Pre-notificationMandate reference : 123456789Name of the supplier : Subscription Magazine ABCAmount : 57,23 eurosPayment date : every year 15th of JanuaryFirst payment : 15th of January 2009
Pre-notification mandatory if amount and/or debit date changes
MOB ERP/IT - 15/04/201329 / 34
The mandate reference must be allocated by the creditor and is limited to 35 positions. It is advisable to keep the reference short and simple. This will make it easier for debtors to confirm mandates.
The mandate
MOB ERP/IT - 15/04/201330 / 34
DOM 80 >< SEPA Direct debits
In the DOM 80 system, you could as creditor collect the money (credit of your account) but also reimburse your customers for any amount (debit of your account).
In the SEPA Direct Debit system, reimbursements are possible via “Reversal” if same amount as for debit and same transaction reference.Otherwise, a Credit transfer will be needed.
SEPA DD: Reimbursements are not possible
MOB ERP/IT - 15/04/201331 / 34
Non-target days
New Year's Day
Good Friday
Easter Monday
1 May (Labour Day),
Christmas Day and 26 December
MOB ERP/IT - 15/04/201332 / 34
DOM 80 number and SEPA unique reference
► Dom 80 number can be:
Unique 3/7/2 positions: most of the banks
3/7/2 is the account number of the debtor: ING, Bank Van Breda, others ?
SEPA unique reference provided by the creditor needs to be different of the account number
MOB ERP/IT - 15/04/201333 / 34
DOM 80 number & SEPA unique reference
► 1 contract = 1 mandate reference following the SEPA Rulebooks
► 1 DOM 80 number = 1 unique mandate reference► Quid if different contracts with the same DOM 80
number ? ► National Bank file has foreseen 6 positions beside the
3/7/2
MOB ERP/IT - 15/04/201334 / 34
DOM 80 number & SEPA unique reference
► Example
If 1 DOM 80 number covers different contracts, the 6 positions next to the 3/7/2 can be used
3/7/2 …..1 -> 1 SEPA reference for the contract 1
3/7/2 …..2 -> 1 SEPA reference for the contract 2
3/7/2 …..3 …
MOB ERP/IT - 15/04/201335 / 34
Latest status SEPA
1. 1. E-mandates
2. Survey in Q4, 2012 at National level► Task force at EPC level► Task force at Febelfin level
► 2. Fixed amount scheme ( or non refund SDD scheme )
► Code of conduct ? Scope ?► 3. Core 1► Austria, Germany, Spain
MOB ERP/IT - 15/04/201336 / 34
Conclusion
► Go for it ! Less than 200 days left► There is no option, mandatory by law, the creditors
need to be migrated for the 1st Feb, 2014► A lot of opportunities for your customers► Banks and the National Bank are ready to support you
in providing more information► Please, put the SEPA module in a current version of
the software
Communication
MOB ERP/IT - 15/04/201338 / 34
Communication: Regulation,considérant 15
► "Il est indispensable que tous les acteurs, notamment les citoyens de l'Union, soient informés de façon appropriée et dans un délai raisonnable, de manière à être pleinement préparés aux changements que le SEPA apportera. Par conséquent, les principales parties prenantes, telles que les prestataires de services de paiement, les administrations publiques et les banques centrales nationales, ainsi que les personnes effectuant régulièrement des paiements devraient mener de larges campagnes d'information spécialisées, proportionnelles aux besoins et adaptées à leur public si nécessaire, afin de sensibiliser le public et de préparer les citoyens à la migration vers le SEPA. Il y a lieu notamment de familiariser les citoyens à la migration du code BBAN au code IBAN. Les comités de coordination nationaux sont les mieux placés pour coordonner ces campagnes d'information."
MOB ERP/IT - 15/04/201339 / 34
Communication plan NBB (March 2012 – February 2014)
MOB ERP/IT - 15/04/201340 / 34
Communication - Support NBB
► Toolkit● One pager
● Videos
● PPT Presentations
● Links: ECB, EPC, Febelfin,...
► Other● Presentations
● Documentation
● Op demand...
MOB ERP/IT - 15/04/201341 / 34
Communicatie - Support NBB
MOB ERP/IT - 15/04/201342 / 34
Useful SEPA links
► SEPA Belgium (www.sepabelgium.be)
► Febelfin (www.febelfin.be) http://www.febelfin.be/fr/paiements
► NBB (www.nbb.be/sepa)Payment systems - SEPA
► European Payments Council (EPC)(www.europeanpaymentscouncil.eu)
► ISO 20022 standard (www.iso20022.org)