R12: AR/IBY: Is SEPA Direct Debit B2B Supported in Oracle Payments?
Last updated on AUGUST 06, 2014
Applies to:Oracle Payments - Version 12.1.3 and later
Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.
Checked for relevance on 28-Aug-2013.
In Germany there are two versions of direct debit. One is where the customer can withdraw the amount taken from his account within 8 weeks -> SEPA Core Direct Debit. The other version is a pre-authorized direct debit where the customer cannot withdraw the money again. This is usually in the B2B area.
SEPA B2B Direct Debit is mandatory in order to reflect the current pre-authorized direct debits. Today's 'withdrawal method' does not allow a customer to file objection to the withdraw (except directly i.e. immediately or same day). Advantage: After performing a debit, the creditor can think of the money as safe.
In the SEPA Core Direct Debit, the previous 'debit authorization for direct debit' is shown. Here the customer has the opportunity to appeal against debits for up to 8 weeks. That is, the creditor can only call the money safe after 8 weeks from the withdrawal from the customers account.
Is SEPA DIRECT DEBIT B2B supported by Oracle E-Business Suite?
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