EU Payer Regulatory Maintenance
The EU Payer Regulatory Maintenance covers the Regulatory Guidelines, that the Payment Service Providers should take, to detect missing or incomplete information on the Payer or the Payee, and the procedures they should put in place to manage a transfer of funds lacking the required information. This is applicable across all the Payments modules.
Following are the features supported for both Payments and collections type of
transactions as part of the EU Payer regulations:
- Ability to detect missing or incomplete information on the Payer & Payee details, like Name, Account No, and Address, in every Payment through the PSP, while playing the role as the Payer PSP, Payee PSP, or Intermediary PSP (IPSP).
- Ability to reject or suspend real-time Payments with missing or incomplete information on the Payer and/or Payee details.
- Ability to allow for Repairs on such Payments as above.
- Ability to report on such Payments as above.
- Ability to allow for configurations & rules to implement the monitoring in the system.
- Ability to detect & mark as high-risk PSPs repeatedly sending Payments that do not comply with the Regulation and allow for real-time monitoring of Payments from such high-risk PSPs.
- Ability to detect Payments with certain similarities with the payment amount below the threshold for monitoring, but aggregate above the threshold over a certain period, commonly known as Linked Payments.
- Ability to report on Payments for Ex-post monitoring purposes.
- EU Payer Preferences
- EU Member Countries
- Restricted Entities
- EU Payer Restricted Words
- EU Payer Rules
- EU Payer - Rules Evaluation and Processing
- EU Payer Compliance - Supported Payment Types
- Detection of Missing or Incomplete Information
- EU Payer Compliance Queue
- Ex-Post Monitoring
Parent topic: Payments Core Processes