SEPA - Manage mandate amendments

This guide describes how to manage SEPA mandates in Sage X3.

The SEPA direct debit is a payment initiated by the creditor following the prior authorization given by the debtor: the mandate.

In the context of SEPA direct debits, the creditor becomes legally responsible for the management of the mandates. This new responsibility covers the life cycle of the mandate, dematerialization, migration of existing permissions, compliance with the invoicing system, etc.

Audience

With the introduction of the SEPA Direct Debits (SDD), this guide is for issuers obliged to migrate their collections to SEPA.

Legal obligations

The EPC is the decision-making and coordinating body of the European banking industry in relation to payments. Its purpose is to support and promote the creation of SEPA.

SEPA currently consists of the 28 EU Member States plus Switzerland, Iceland, Norway, Liechtenstein, Monaco, San Marino, Andorra and The Vatican. Within SEPA, the banks of customers can make electronic payments in Euros across 36 countries under the same basic rights and obligations (as of March 1, 2019).

The SEPA Core Direct Debit Scheme (SDD Core) and the SEPA Business to Business Direct Debit Scheme (SDD B2B) create for the first time a payment instrument that can be used for both domestic and cross-border debits throughout the 36 SEPA countries/regions.