FarmerBoy
February 8th, 2008, 09:57 PM
http://www.ecb.int/paym/sepa/components/electronic/html/index.en.html
The long-term goal of the EPC is to use the SEPA payment instruments only electronically. This means that in time paper-based credit transfers will disappear. Once payments are made electronically only they can be cleared and settled via STP (straight-through processing) between the banks. This poses a large potential for cost and time savings as manual, error-prone intervention is not needed anymore.
There is a new payment instrument coming in 2010. I am sure it will comply with Rev. 13.
What are the current payment instruments?
http://www.ecb.int/paym/sepa/components/instruments/html/index.en.html
Payment instruments' is the umbrella term for means of payment. In SEPA, the three most important will be harmonised across the euro area. In addition, the handling of cash will be harmonised, too.
Credit transfers
Direct debit
Card payments
Cash
What we are witnessing now in the world financial markets is the wounding of the beast. It’s going to get worse. However, in 2010, a new system will be implemented to improve on the old way of doing financial transaction. Everyone will be required to join this new cashless system.
Yes, there is a new payment instrument coming and it will all make sense in 2010.
The long-term goal of the EPC is to use the SEPA payment instruments only electronically. This means that in time paper-based credit transfers will disappear. Once payments are made electronically only they can be cleared and settled via STP (straight-through processing) between the banks. This poses a large potential for cost and time savings as manual, error-prone intervention is not needed anymore.
There is a new payment instrument coming in 2010. I am sure it will comply with Rev. 13.
What are the current payment instruments?
http://www.ecb.int/paym/sepa/components/instruments/html/index.en.html
Payment instruments' is the umbrella term for means of payment. In SEPA, the three most important will be harmonised across the euro area. In addition, the handling of cash will be harmonised, too.
Credit transfers
Direct debit
Card payments
Cash
What we are witnessing now in the world financial markets is the wounding of the beast. It’s going to get worse. However, in 2010, a new system will be implemented to improve on the old way of doing financial transaction. Everyone will be required to join this new cashless system.
Yes, there is a new payment instrument coming and it will all make sense in 2010.