Marcel van Oost

✂️ Cut fees. Reduce costs... Use instant account-to-account (A2A) payments? Across Europe, merchants are dealing with high fees from card and digital wallet providers. ⚡ #InstantA2APayments offer reduced fees and fewer complexities compared to these payment networks. Not only this, but they offer faster, more agile and secure payments for consumers and merchants alike. Read more about the benefits of A2A payments for merchants and how they may enhance your bottom line ➡️ https://lnkd.in/d__EGzuB #MerchantPayments #OpenBanking #A2APayments #DigitalWallets

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Increase Payment Flexibility to Boost Payee Satisfaction Using payment orchestration, businesses can offer customers multiple payment methods—credit cards, digital wallets, local payment methods—and ensure instant, seamless payouts, no matter where they are. Integrating localized payment methods such as SEPA in Europe, PIX in Brazil, or UPI in India dramatically improves the payee experience. By offering flexibility and reliability, organizations can strengthen relationships with their global workforce, suppliers, and partners. Learn more about the impact Payout Orchestration can have on your organization with our Complete Guide to Payout Orchestration: https://hubs.ly/Q02Vx10z0 #PaymentOrchestration #PayoutOrchestration

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Is a new wave of P2P payments coming to Europe? 🌊🤔 Earlier this week, the European Payment Initiative (EPI Company) launched its Wero Wallet product in Germany.🇩🇪 This payments system enables instant peer-to-peer payments 24/7 through a combination of open banking and SEPA Instant Credit Transfer. If this sort of service sounds familiar, it is. Many European countries have similar systems, including Spain's Bizum and Belgium's Payconic. Further, many fintech innovators have tried creating P2P payment apps in the past, but with little success. So what makes Wero so different and why might they have a better outcome? Unlike other P2P payment services, Wero is an initiative from major banks across Europe. Instead of having to compete with other startups and incumbents, EPI can quickly roll out Wero leveraging their retail banking partners who already hold a natural advantage in their domestic markets. At the moment Wero is only available in Germany. However, EPI plans on rolling out the new service to both the French🇫🇷 and Belgian🇧🇪 markets later this summer. With ambitious growth plans, a sizeable amount of capital, and the backing of major retail banks, it's entirely possible that Wero ushers in a era of instant payments across Europe. What are your thoughts? Is Wero legit? Or is this project yet another in a long line of attempts to solve product-market fit for better p2p payments? /Written by Elliott Locke, ACSI Locke. Pau, our AI assistant, is currently on holiday in Greece. 

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Direct debit collection helps to accelerate payment processes and reduce delayed transactions. With the customer's consent, Single Euro Payments Area (SEPA) enables you to directly receive payments from the customer's bank account. This article will guide you through the step-by-step process of setting up direct debit collection in Dynamics 365 Business Central. From creating the necessary export formats to communicating with the bank and managing rejection scenarios, this article has got you covered.   Here's a sneak peek at the implementation steps:   💠 Identify "bank account" and fill in the required information such as SEPA Direct Debit Export Format and Direct Debit Message Numbers. 💠Create a payment method with direct debit feature 💠Pick the customer and enter details such as partner type, payment terms code, and payment method code. 💠 Add the customer's bank account information in the customer card. 💠 Configure the direct debit mandates, including the transaction ID, customer bank account, and validity period. 💠 Create a standard sales line for the customer, ensuring the currency code is set to "Euro." 💠 Generate recurring sales invoices and specify the order and posting dates. 💠 Create a direct debit collection entry, providing the validity period and the bank account number for payment transfer. 💠 Process the collection entry, export the direct debit file in XML format, and submit it to the bank. 💠 Once the bank verifies the transaction details, the payment will be processed.   Access the full blog from the link posted in the comments section. #dynamics365businesscentral #directdebit #copilot #dynamics365 #businesscentral #d365 #d365bc #msdyn365bc #mspartner #microsoftcopilot #msftdyn365 #erp #sales #invoice #businessprocesses #microsoft #microsoftpartner

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SEPA Instant Payments – A Catalyst For New Developments In The Payments Market 💡 In November 2024, the European Payments Council (EPC) published an updated and enhanced version of the SEPA Instant Credit Transfer (SCT Inst) rulebook. This rulebook enters into force on 5 October 2025. The following infographic illustrates the conceptual work flow of an SCT Inst and some use cases. There are several benefits this new payment method brings to the table, including a strong reduction of working capital trapped to fund operations. Much will also depend on some factors such as: 🔹 Can it seamlessly be integrated into the sale process? 🔹 Which additional services will be linked to this type of payment? Retailers might want to combine these payments with their loyalty programs. 🔹 What will be the rate of adoption by both banks? 🔹 How quickly the various CMS systems in Europe will be able to interoperate? 🔹 Which prices the banks will charge for this new payment instrument? 🔹 Will it be possible to combine instant payments with new technologies such as the NFC (Near Field Communication)? For financial institutions, this will imply major changes, as they need to be able to: 🔹 Make the necessary compliance and KYC checks; 🔹 Do real-time processing and routing; 🔹 Upgrade their current architecture to support SCT Inst; 🔹 Comply with the SLA of the SCT Inst Scheme; 🔹 Allow 24/7/365 operational processes, availability, reporting and servicing; 🔹 Make extra notifications and reach filtering (as the SCT Inst scheme is not mandatory); 🔹 Adapt their fraud/sanctions management systems; 🔹 Adapts their liquidity management processes and monitoring; We can think that it is a matter of time before instant payments become widely used in Europe. Although financial institutions have a lot of challenges ahead, embracing innovations such as instant payments will be a crucial factor in meeting customers’ growing expectations for faster, more secure and more efficient payments. PSD2 could be a catalyst to the development of SCT Inst. Many Fintechs are already positioning themselves to offer their services. The experts agree that whilst from the start, there will be use cases enabling the SCT Inst to take off, it will take a couple of years before we will see use cases in e-commerce and with the retailers, leading to a progressive mass adoption. Source: European Payments Council (EPC) - https://t.ly/O17lb #Innovation #Fintech #Banking #OpenBanking #API #FinancialServices #Payments #DigitalPayments #InstantPayments #SEPA #SCTInst #KYC #AML

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🔍 Transforming the Financial Sector: The EU Digital Identity Wallet 🔍 The EU Digital Identity Wallet is set to revolutionize the financial sector, and banks are uniquely positioned to provide trusted identity wallets. To succeed, banks need to start preparing. Missed our live webinar? Don't worry! You can now watch the Nets-hosted session where top industry experts Kristian T. Sørensen, Oscar Santolalla and Viky Manaila explore the transformative impact of the EUDI Wallet on European financial institutions and discuss how banks can prepare for these changes. 👉 Watch the webinar recording here: https://lnkd.in/dcCJ537A #EUDIWallet #EUDIframework #DigitalIdentity #eIDSolutions #eIDAS2.0

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Everybody wins! 🏆 For your cardholders, instant issuance goes beyond convenience to offer the security and flexibility they need. For your bank or credit union, you can say goodbye to recurring expenses like packaging, mailing, and postage associated with central issuance. There are many reasons why nearly two-thirds of the top 50 U.S. banks and credit unions offer instant issuance. Find out more in our blog: https://hubs.la/Q02Chcyn0

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How does PayLead ensure eligible transactions are rewarded just once, despite the possibility of subscribed bank clients sharing transactions with our fintech partners also offering cashback? 🤔 Go beneath the surface of our platform and understand how Pierre-Louis DANIEAU and the data team developed a solution to avoid this scenario 👇

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EPI launches Wero wallet in Germany The European Payments Initiative (EPI) has launched its mobile-first wallet and instant account-to-account payments system in Germany, with other counties set to follow in the coming months. German Sparkassen and Volksbanken, Raiffeisenbanken customers can now make instant money transfers from account to account between individuals, via their banking app. Deutsche Bank will launch wero later this year, starting with Postbank. Wero enables mobile payments from one phone to another. Unlike traditional transfers, Wero users do not need the recipient's 22-digit account number (IBAN). Instead, a mobile phone number or email address can be used for real-time money transfers. Next year, Wero will get the ability to pay any small professional from the wallet, and also pay merchants online and upon invoices via QR code. This includes the ability for consumers to manage recurring payments for subscriptions or installments, but also to pay in merchant apps at point of sale without going through the cashier. In-store payments at the cash register will also be added in 2026, along with other capabilities, such as BNPL, merchant loyalty, programme integration and expense sharing. https://lnkd.in/ev3nH8_Z

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The Milestones for the implementation of the mandatory SEPA Instant Payment scheme! 🕒 As of March 19, 2024, the regulation on instant payments was officially published in the Official Journal of the European Union, setting in motion a new timeline for payment service providers (PSPs) within the Eurozone. These providers now have 9 months to accept incoming SEPA Instant Payments and 18 months for sending outgoing payments, effective from the publication date. By January 9, 2025, PSPs must be equipped to receive instant payments in euros, and by October 9, 2025, they will also need to manage outgoing instant payments. SEPA countries outside the euro zone are granted an additional two-year period to comply, with their respective deadlines set for January 9, 2027, for incoming and October 9, 2027, for outgoing payments. These changes mark significant steps towards faster and more efficient financial transactions across Europe. They reflect the ongoing efforts to enhance the financial infrastructure, ensuring a seamless and secure transfer process that benefits both consumers and businesses alike. How will these changes affect business operations or financial practices? Do you think institutions will be prepared in time for these changes? #SEPA #InstantPayments #FinancialRegulations #Eurozone #PaymentServiceProviders #Finance #Banking 

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With SEPA Instant Payment legislation coming into effect January 2025; at Facctum we're building the technology required for a smooth transition.

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🌟 Newsroom Highlights Discover the ins and outs of P2P payments! Our comprehensive guide covers everything from bank transfers to digital wallets, ensuring you're well-versed in peer-to-peer transactions. 📚 Read all about it: https://lnkd.in/dm2Bu2Jc #OKTO #P2P #onlinepayments #fintech #ewallet

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🌍 Understanding SEPA payments: Your essential guide SEPA payments have made transactions across Europe faster and cheaper, but the details can often get lost in technical jargon. Dive into our clear, comprehensive guide to learn everything from the basics of SEPA to its future developments, including key details about its timings, execution times, and cut-offs. #inpay #InpayInsights #SEPA #SEPAPayments #InstantSEPA https://hubs.la/Q02KXQl40

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🚨 New EU Instant Payments Rules: What You Need to Know About VoP and SCT Inst 🚨 The European Union has just released an 82-page FAQ addressing uncertainties around the regulation of SEPA Instant Payments (SCT Inst), particularly the Verification of Payee (VoP) process. To save you time, I’ve summarized the key points below, along with some open questions that remain to be clarified. 🔑 Key Takeaways from the FAQ: Verification of Payee (VoP): Ensures the payee’s name matches the IBAN before authorizing a payment, reducing fraud and errors. VoP applies to both regular SEPA payments (SCT) and instant payments (SCT Inst). Important Deadlines: 🗓️ 09.01.2025: All payment service providers must accept incoming instant payments. 🗓️ 09.10.2025: Providers must send outgoing instant payments. 🚀 As part of these changes, outgoing payments will require the VoP service to further enhance transaction security. ❓ Open Questions: - VoP for Joint Accounts: Question: How will the VoP process handle joint accounts with multiple account holders? Interpretation: It’s possible that the VoP will check all names associated with the account. However, this has not been confirmed in the current FAQ. - VoP for Recurring Payments: Question: What happens when the payee’s name changes due to marriage or a company rebrands, but the IBAN remains the same? Interpretation: The VoP process may require a new verification when a name mismatch occurs. Payees may need to update their details, and payers could be prompted to confirm the changes before recurring payments proceed. However, the exact process has yet to be clarified. - VoP for Scheduled Payments: Question: How will VoP be handled for scheduled payments set far in advance, where details like the payee's name might change over time? Interpretation: One possibility is that scheduled payments may trigger VoP checks closer to the payment date. If discrepancies arise, payers could be notified and asked to confirm updated details, but there is no definitive guidance on this yet. 📢 Reminder: These changes are mandatory, and it's crucial that PSPs and businesses prepare for the upcoming deadlines. The VoP process is a game-changer for payment security across SEPA, but some aspects, especially around joint accounts, name changes, and scheduled payments, still need further clarification.

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Finom Launches SEPA Direct Debit B2B Across Its EMI-Licensed Markets, Expanding Payment Options for European SMEs Read more: https://lnkd.in/dRr3Z2Ve #FINOM #SEPADirectDebit #B2BPayments #EuropeanSMEs #EMILicensedMarkets #finance #fintech #FinancialIT

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Finom Launches SEPA Direct Debit B2B Across Its EMI-Licensed Markets, Expanding Payment Options for European SMEs “With the launch of SEPA Direct Debit B2B, we’re empowering SMEs across Europe to efficiently manage their payment flows,” said Yakov Novikov, co-CEO and co-founder at FINOM. “This feature simplifies complex financial operations, allowing small and medium-sized businesses to automate and manage their outgoing payments to other companies and tax authorities. It’s another step in our mission to build a full-stack financial operating system that enables entrepreneurs to streamline their financial commitments and focus on growing their businesses.” https://lnkd.in/eiaDuxB4 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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🚀Unlocking Growth & Innovation with PSD2 🚀 The future of banking is here, driven by PSD2 and Open Banking. Neobanks are leading the charge with secure, personalized financial services, faster payments, and seamless integrations. From enhanced customer experiences to new revenue opportunities, discover how neobanks are outpacing traditional banks with innovation, agility, and collaboration with fintechs. Are you ready for the PSD2 revolution? #PSD2 #Neobanks #OpenBanking #FintechInnovation #DigitalBanking

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Open Banking Compliance Solution ecosystem​ Let us take care of all the regulatory required components, ensuring a secure ecosystem and seamless interaction between all the parties.   TPP Management​: -TPP verification​ -Monitoring of all TPP activities​ -Possibility to provide and revoke TPP access at any time Consent management​: -Customer consents processing -Long-lived consent management -Consents monitoring​ -Consent management API Reporting and monitoring:​ -Quarterly API reports generated with a click, for regulator reporting​ API availability stats made available on website. Full control & monitoring in one place​: -Open banking channel activities monitoring​ -Support via ticketing system -Different team roles in dashboard -API performance monitoring   Full-service environment for TPPs:​ -Sandbox & production APls access​ -Detailed documentation for integration​ -TPP dashboard​ -Account information and payment initiation channels​ -TPP communication handled by us -Offering top-tier API availability and support -New ways of monetisation -A flexible solution that allows adding premium APls and value-added services, on top of the mandatory PSD2 APls requirements scope -Security and stability. Spire Tech, in partnership with Salt Edge, stands out as the top choice for banks seeking compliance, offering commitment both to ongoing maintenance and scalability towards next growth phases. Get in touch to know more! 📧 [email protected] 📞 +973 3955 0309 #SpireTech #SaltEdge #OpenBankingComplianceHub #SpireComply #OpenBanking #Fintech #DigitalTransformation #Innovation #FinancialServices #FutureOfFinance #Collaboration #Partnership

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The SEPA Instant Payments Regulation is bringing big changes that payment service providers (PSPs) must be ready for by January and October 2025. With these new rules, banks and PSPs must be proactive to stay compliant and competitive.    As the SEPA Instant Payments Regulation deadlines approach, Chatsworth client RedCompass Labs breaks down the five essential things you need to know in its latest article for Banking Risk and Regulation:   1. The entire payment process must happen within 10 seconds. This will put pressure on IT systems and may force smaller PSPs to reconsider their setup.   2. The €100k cap is gone, opening the door to larger business-to-business instant payments. This will challenge liquidity management and increase the risk of fraud.   3. PSPs must screen clients daily against EU sanctions lists, but screening individual transactions is prohibited. This adds significant compliance pressure, especially with evolving sanctions.   4. PSPs must offer instant currency conversion, even when FX markets are closed. This introduces financial risks and may require new hedging strategies.   5. Not all banks will be required to comply, potentially creating market disparities.   Read the full article to find out more: https://lnkd.in/eQUpjz8s   #SEPA #InstantPayments #Fintech #Compliance #Payments

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