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;
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/emandatesContact
Juliane Segedi | Fraunhofer-Institut
Construction of practical quantum computers radically simplified
05.12.2016 | University of Sussex
UT professor develops algorithm to improve online mapping of disaster areas
29.11.2016 | University of Tennessee at Knoxville
Physicists of the University of Würzburg have made an astonishing discovery in a specific type of topological insulators. The effect is due to the structure of the materials used. The researchers have now published their work in the journal Science.
Topological insulators are currently the hot topic in physics according to the newspaper Neue Zürcher Zeitung. Only a few weeks ago, their importance was...
In recent years, lasers with ultrashort pulses (USP) down to the femtosecond range have become established on an industrial scale. They could advance some applications with the much-lauded “cold ablation” – if that meant they would then achieve more throughput. A new generation of process engineering that will address this issue in particular will be discussed at the “4th UKP Workshop – Ultrafast Laser Technology” in April 2017.
Even back in the 1990s, scientists were comparing materials processing with nanosecond, picosecond and femtosesecond pulses. The result was surprising:...
Have you ever wondered how you see the world? Vision is about photons of light, which are packets of energy, interacting with the atoms or molecules in what...
A multi-institutional research collaboration has created a novel approach for fabricating three-dimensional micro-optics through the shape-defined formation of porous silicon (PSi), with broad impacts in integrated optoelectronics, imaging, and photovoltaics.
Working with colleagues at Stanford and The Dow Chemical Company, researchers at the University of Illinois at Urbana-Champaign fabricated 3-D birefringent...
In experiments with magnetic atoms conducted at extremely low temperatures, scientists have demonstrated a unique phase of matter: The atoms form a new type of quantum liquid or quantum droplet state. These so called quantum droplets may preserve their form in absence of external confinement because of quantum effects. The joint team of experimental physicists from Innsbruck and theoretical physicists from Hannover report on their findings in the journal Physical Review X.
“Our Quantum droplets are in the gas phase but they still drop like a rock,” explains experimental physicist Francesca Ferlaino when talking about the...
16.11.2016 | Event News
01.11.2016 | Event News
14.10.2016 | Event News
09.12.2016 | Life Sciences
09.12.2016 | Ecology, The Environment and Conservation
09.12.2016 | Health and Medicine