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SEPA (Single Euro Payments Area)

We're pleased to announce the SEPA releases of Opera 3 (1.82) and Opera II (7.22).

What is SEPA (Single Euro Payments Area)?

SEPA (Single Euro Payments Area) is an EU initiative that will change the way euro denominated electronic payments are processed across Europe. SEPA comes into full effect on 1 February 2014 and will mean that users of payment services can make and receive payments across all participating countries using common technical standards and common payment instruments.  Payments between the 28 member states of the EU together with Iceland, Liechtenstein, Monaco, Norway and Switzerland will be impacted by SEPA. All national direct debits and credit transfers (made in euro currency) must be SEPA compliant.

National Sort Codes and Bank Account Numbers will be replaced by Bank Identifier Codes (BIC) and International Bank Account Numbers (IBAN) for all euro denominated electronic payments. Non-euro EU member states (countries like the United Kingdom that are members of the EU but do not have euro as their home currency but make cross-border euro electronic payments), do not have to be SEPA compliant until 31 October 2016 .  However, many UK banks have signed up to participate in the SEPA scheme prior to the 2016 deadline.  Therefore, some UK banks will accept SEPA compliant payment files for making euro payments, whilst others will still offer SEPA capability but only by way of manually keying-in euro payment details online.

Opera 3 (1.82) and Opera II (7.22) will allow you to make SEPA compliant euro electronic payments. You will also be able to record BIC and IBAN against supplier, customer and bank account records.

Opera 3 (1.82) and Opera II (7.22) are SEPA ready

Download our Free Guide

Download our free SEPA Guide to understanding to find out more.

Next step

Contact your Pegasus Partner if you would like to receive the upgrade. Please note, a current Annual Maintenance Contract (AMC) must be in place.