Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Electronic mandates for SEPA direct debit transactions

09.12.2013
Comparative study of SEPA-compliant solutions

The migration to the SEPA payment instruments in February 2014 poses new challenges to payment service providers and users.

From that date on, a creditor needs to be in possession of a mandate signed by the debtor in order to collect direct debit payments. Fraunhofer IAO has conducted a comparative study of solutions for SEPA-compliant electronic mandates with regard to the advantages and disadvantages for debtors, creditors, and banks.

Until now, direct debit has been the payment method of choice for many payers and payees, especially in Germany. This method is appreciated by all parties for its convenience, and especially the simplicity of setting up direct debit arrangements. As of February 2014, banks and payees (creditors) must adapt their direct debit processes to the requirements of the SEPA Direct Debit (SDD) Schemes.

Among other things, the payer (debtor) needs to sign a SEPA-compliant mandate to give his or her consent to a one-off or recurrent direct debit. Given the increasingly widespread use of electronic payment orders, there is a need for suitable electronic mandate solutions that provide the required security while being easy to implement.

This is the subject of Fraunhofer IAO’s white paper entitled “Electronic Mandates for SEPA Direct Debit Transactions”. The white paper was produced with the financial support of EBA CLEARING, the provider of the electronic authorisation solution MyBank. The study looks at various alternative forms of electronic mandates and evaluates their advantages and limitations. The white paper compares the following alternatives:

E-mandate solutions based on the 2-corner model, which include processing by the debtor and the creditor only;
E-mandate solutions based on the 3-corner model, which additionally include processing by the debtor’s bank;
E-mandate solutions based on the 4-corner model, which additionally include processing by both the debtor’s and the creditor’s bank.

The white paper provides service providers, payees and technical providers with an overview of the system security, user-friendliness, and practicability of the different solutions.

The document is available in English and German and can be downloaded free of charge by clicking on the following link: www.e-business.iao.fraunhofer.de/emandates

Contact
Maximilien Kintz
Electronic Business
Fraunhofer IAO
Nobelstraße 12
70569 Stuttgart, Germany
Telefon +49 711 970-2182
Email maximilien.kintz@iao.fraunhofer.de

Juliane Segedi | Fraunhofer-Institut
Further information:
http://www.e-business.iao.fraunhofer.de/emandates
http://www.iao.fraunhofer.de/lang-de/geschaeftsfelder/informations-und-kommunikationstechnik/1250-elektronische-mandate-fuer-sepa-lasts

Further reports about: E-mandate Electronic Systems SEPA SEPA-compliant service provider

More articles from Information Technology:

nachricht Cutting edge research for the industries of tomorrow – DFKI and NICT expand cooperation
21.03.2017 | Deutsches Forschungszentrum für Künstliche Intelligenz GmbH, DFKI

nachricht Molecular motor-powered biocomputers
20.03.2017 | Technische Universität Dresden

All articles from Information Technology >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Giant Magnetic Fields in the Universe

Astronomers from Bonn and Tautenburg in Thuringia (Germany) used the 100-m radio telescope at Effelsberg to observe several galaxy clusters. At the edges of these large accumulations of dark matter, stellar systems (galaxies), hot gas, and charged particles, they found magnetic fields that are exceptionally ordered over distances of many million light years. This makes them the most extended magnetic fields in the universe known so far.

The results will be published on March 22 in the journal „Astronomy & Astrophysics“.

Galaxy clusters are the largest gravitationally bound structures in the universe. With a typical extent of about 10 million light years, i.e. 100 times the...

Im Focus: Tracing down linear ubiquitination

Researchers at the Goethe University Frankfurt, together with partners from the University of Tübingen in Germany and Queen Mary University as well as Francis Crick Institute from London (UK) have developed a novel technology to decipher the secret ubiquitin code.

Ubiquitin is a small protein that can be linked to other cellular proteins, thereby controlling and modulating their functions. The attachment occurs in many...

Im Focus: Perovskite edges can be tuned for optoelectronic performance

Layered 2D material improves efficiency for solar cells and LEDs

In the eternal search for next generation high-efficiency solar cells and LEDs, scientists at Los Alamos National Laboratory and their partners are creating...

Im Focus: Polymer-coated silicon nanosheets as alternative to graphene: A perfect team for nanoelectronics

Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are less stable. Now researchers at the Technical University of Munich (TUM) have, for the first time ever, produced a composite material combining silicon nanosheets and a polymer that is both UV-resistant and easy to process. This brings the scientists a significant step closer to industrial applications like flexible displays and photosensors.

Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are...

Im Focus: Researchers Imitate Molecular Crowding in Cells

Enzymes behave differently in a test tube compared with the molecular scrum of a living cell. Chemists from the University of Basel have now been able to simulate these confined natural conditions in artificial vesicles for the first time. As reported in the academic journal Small, the results are offering better insight into the development of nanoreactors and artificial organelles.

Enzymes behave differently in a test tube compared with the molecular scrum of a living cell. Chemists from the University of Basel have now been able to...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

International Land Use Symposium ILUS 2017: Call for Abstracts and Registration open

20.03.2017 | Event News

CONNECT 2017: International congress on connective tissue

14.03.2017 | Event News

ICTM Conference: Turbine Construction between Big Data and Additive Manufacturing

07.03.2017 | Event News

 
Latest News

Vanishing capillaries

23.03.2017 | Health and Medicine

Nanomagnetism in X-ray Light

23.03.2017 | Physics and Astronomy

Pulverizing electronic waste is green, clean -- and cold

22.03.2017 | Materials Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>