Germany’s PAY.ON, the international provider of web-based payment infrastructure services, has integrated the single euro payments area (SEPA) direct debit (SDD) payment process from P4 Solutions into its network.
The PAY.ON platforms have supported SEPA payment processing already for some time, but by integrating P4 Solutions, a further SDD payment process solution is now available to PAY.ON clients. This affords their merchants enough time for the technical implementation by 1 February 2014 and to actively prepare their end customers for the SEPA payment process. The PAY.ON application programming interface (API) provides access to around 300 payment providers in total, including more than 100 payment types.
“SEPA offers significant benefits to merchants in Europe and around the world by making their e-commerce more customer-oriented,” said Markus Rinderer, chief executive officer (CEO) of PAY.ON.
“The potential is enormous if you consider that out of around 500m people in Europe only 125m have a credit card, but they all have a bank account – the only requirement for using SEPA. E-commerce in Europe now has a great opportunity to take cross-border trade into a new era, all thanks to SEPA.”
Amran Khalid, director international sales for P4 Solutions added: “Direct debit, which is popular in Germany, can continue to be offered beyond 1 February 2014 by means of the P4 SEPA connector.
“Contrary to the recommendation issued by the German banking association, the SEPA rule book does not require a written paper or fax mandate. The e-mandate tool from P4 Solutions, available as part of the solution provided by PAY.ON, makes it possible to perform this virtually in a secure manner.”
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.
As the May 25 deadline for Europe’s General Data Protection Regulation (GDPR) inches closer, many treasurers are being lumped with the task of ensuring their wider company is compliant.
Apps are a critical part of treasury's shift into mobile banking as 67% of treasury and corporate finance professionals said mobile banking services are of particular interest to them in a recent survey.