In 2014 the classic SEPA batch processing finally replaced the domestic payment procedures of the euro countries and has since then become established. Even though the credit procedure competes with SCT Inst (SEPA real-time payments) and there is currently an initiation procedure with Request to Pay (RTP), which can convert some direct debits into real-time payments, we do not expect the classic SEPA procedures to be replaced in the next few years. Instead, we see advantages in introducing effective new solutions for mass payments as well. With regard to the migration to the ISO standard in the 2019 version as of November 2023, an investment in a platform can bring many advantages.
In addition to the high level of automation, which is elementary in mass payments, TRAVIC-Payment Hub with its integrated workflow engine offers a high degree of flexibility in the design of workflows and the system integration. The high level of automation is achieved, for example, by a fully automated response to investigations from other financial institutions and recalls.
Benefit from a hybrid payments platform in which central business services are used for various procedures. The integration into your back end only takes place once and brings long-term advantages thanks to the synergies between the payments procedures.
Would you like to learn more about TRAVIC-Payment Hub? We are happy to give you more information.