The main objective is to establish a single payment system throughout the Eurozone and other European countries that have a national currency but accept payments in euros, and which are members of the SEPA area.
Our partner TIS participated in the process of introducing SEPA into financial institutions in Croatia and Slovenia and developing its own solutions for SEPA credit transfers and SEPA direct debits. TIS also participated in development and implementation of the new National Clearing System (NKS) compliant with the European payment scheme and EuroNKS for clearing euro payment transactions, in collaboration with Fina.
TIS ’experts are still actively working on the implementation of SEPA payment instruments including SCT Instant Payments, both in IT development and in the business part of the project planning and system development thanks to knowledge and experience of the ISO 20022 standard for payment messages and the payment messages in the ISO 20022 standard that are used in SEPA and by the ECB’s Settlement System TIPS, in particular knowledge of the following regulatory frameworks:
- SEPA CREDIT TRANSFER SCHEME RULEBOOK
- SEPA DIRECT DEBIT SCHEME RULEBOOK
- SEPA INSTANT CREDIT TRANSFER (SCT INST) SCHEME RULEBOOK