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The SEPA (Single Euro Payments Area) is a self-regulatory initiative by the European banking sector represented in the European Payments Council, which defines the harmonization of payment products, infrastructures and technical standards (Rulebooks for credit transfer/direct debit, BIC, IBAN, ISO 20022 XML message format, EMV chip cards/terminals).
ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes , and a maintenance process for the repository content.
SWIFT message types are the format or schema used to send messages to financial institutions on the SWIFT network. The original message types were developed by SWIFT and a subset was retrospectively made into an ISO standard, ISO 15022. In many instances, SWIFT message types between custodians follow the ISO standard. [1]
In HTML and XML, a numeric character reference refers to a character by its Universal Coded Character Set/Unicode code point, and uses the format: &#xhhhh;. or &#nnnn; where the x must be lowercase in XML documents, hhhh is the code point in hexadecimal form, and nnnn is the code point in decimal form.
The Creditor Reference (also called the Structured Creditor Reference) is an international business standard based on ISO 11649, implemented at the end of 2008. Using Creditor Reference, a company can automatically match its remittance information to its A/R. This means that the company's financial supply chain's automated processing will be ...
Besides differences in the schema, there are several other differences between the earlier Office XML schema formats and Office Open XML. Whereas the data in Office Open XML documents is stored in multiple parts and compressed in a ZIP file conforming to the Open Packaging Conventions, Microsoft Office XML formats are stored as plain single monolithic XML files (making them quite large ...
Routing data elements are encoded in XML and secured through signing and encryption using X.509 PKI certificates, which replaced the older RSA keys. Signing and encryption were optional until version 3.0, after which they became mandatory. The EBICS transmission protocol can be used to wrap SEPA-XML statements as they come forward.
The Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union for simplification of bank transfers denominated in euros.As of 2020, there were 36 members in SEPA, [2] consisting of the 27 member states of the European Union, the four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), and the United Kingdom.