The integration of SEPA_CT and SEPA_DD into CGI_XML_CT/CGI_XML_DD
SEPA (Single Euro Payments Area) is one of the well-used Payment Formats across European countries and regions in Euro currency. You may have noticed that Payment Medium Formats for SEPA_CT (Credit Transfer) and SEPA_DD (Direct Debit) have changed into country-specific CGI_XML_CT and CGI_XML_DD formats. Which benefits can these changes bring it to you?
Regarding integration, it is important to clarify a few points:
- SEPA_CT is fully integrated with all country-specific into CGI_XML_CT (Credit Transfer pain.001.001.03) e.g. German SEPA_CT -> DE_CGI_XML_CT
- SEPA_DD is fully integrated with all country-specific into CGI_XML_DD (Direct Debit pain.008.001.02) e.g. German SEPA_DD -> DE_CGI_XML_DD
- CGI (Common Global Implementation initiative) has acceptance of ISO 20022 XML
The benefits of the integration are:
- CGI has broader usage than SEPA
- CGI_XML_CT and CGI_XML_DD allow International Payments in a currency other than Euro or International Payments to third countries
- Simplification of maintenance – the same Payment Medium Formats for SEPA and non-SEPA payments
List of all Payment Medium Formats for SAP S/4HANA Cloud is on this link.