Nine months since the launch of SEPA, Oracle has finally released patch for SEPA Credit Transfer (SCT) for much demanded need for European EBS customer.

High Points of SEPA Project

Lets recap some of high points of SEPA ^[1] project.

• Objective: Harmonize electronic payment schemes according ISO 20022 rules.
• Countries: Euro zone countries
• Transactions: Only Euro transactions.
• Period: From January 1, 2008.The goal of EPC is to make SEPA mandatory from 2011

SEPA support at Oracle

• Oracle plan is support in major product(EBS,Fusion, Enterprise) lines
• Oracle plan is to support only two types of SEPA messages in most of these products:
  • Customer Credit Transfer Initiation
  • Customer Direct Debit Initiation
    • For Availability of these functionality , check out documentation of respective products.

SEPA@ EBS

Oracle EBS functionality for SEPA messages customer credit transfer initiation (pain.001.001.02) is based on the ISO20022 format. ISO20022 format have these benefits;

• Batch booking
• Grouping : This reduce the number of transmitted files
• Remittance message
• End to end id . This will ease reconciliation and referencing

SEPA messages with Oracle EBS Release dates for 11.5.10 and 12

These are summary of different SWIFT message.

Fig 1: SEPA swift Message

Out of these list Oracle EBS supports for both Customer Credit Transfer(pain.001.001.02 ) as well as Customer Direct Debit (pain.008.001.01)

Here are the summary of information for SEPA out-of-box Functionality in EBS.

Fig 2: Oracle Support for SEPA

SEPA availability in EBS

The SEPA Credit Transfer Initiation Message is available for R11.5.10 via Patch 6741280.Customer using 11.5.10 can get the functionality enable by applying patch.

Wrapping up

• The SEPA out-of-box functionality will be released as patches
• Jan 2008 – Jan 2010 is a official transition period
• Extensive test is required with bank when you are utilizing this functionality.

Will keep you posted for any updates.:)

Similar Post

• THE SINGLE EURO PAYMENTS AREA (SEPA) ^[1]
• A bit on SEPA - IBAN & BIC ^[2]

Oracle white paper

• Note:738361.1 :Supporting SEPA Credit Transfer in Oracle Payables for Oracle Applications Release 11.5.10 ^[3]