SEPA (Single European Payments Area)

European Payment Council, the European Central Bank and the European Commission have jointly created a Single European Payments Area (SEPA), wherein all electronic payments are considered domestic. There is no difference between national and intra-European cross border payments. The goal is to improve the efficiency of cross-border payments and turn the national markets into a single domestic one. SEPA will enable customers to make cashless Euro payments anywhere within the area using a single bank account and single set of payment instructions. Launched in January 2008, SEPA is expected to be fully implemented by the end of 2010.

The following SEPA services are being introduced in stages in Finland during the transitional period:

" SEPA credit transfer

" SEPA debit card

" SEPA direct debit

SEPA (Single European Payments Area) promises to provide numerous changes for all businesses, banking institutions and individuals, including billing, IBAN, BIC bank identification numbers, reference numbers and direct debits.

How does SEPA affect AProfit and CProfit?

SEPA services must be used in cross-border payments within the Single Euro Payments Area. The current direct debit payment methods within Finland will cease by the end of 2010; the final schedule has yet to be established. Current direct debits can be replaced by either eInvoice (Finvoice) and/or a SEPA direct debit. SEPA direct debits will provide a debit notice to the customer two months prior to the due date, as per to SEPA regulation.

Anygraaf can provide AProfit and CProfit customers with the necessary modules and updates for compliance.

Please contact Anygraaf at

for more information.