[…] adaptable and scalable Legally compliant and future - proof With the CESOP Compliance Service, DPS offers a complete solution for meeting the new requirements: Easy connection of transaction and core banking systems Identification of relevant transactions Meldung an die Steuerbehörde UI für Korrektur und Wiedervorlage - möglichkeit The CESOP Compliance Service ensures timely and […]

[…] and scalable Legally compliant and future - proof With the CESOP Compliance Service, DPS offers a complete solution to fulfil the new requirements: Straightforward connection of the transaction and core banking systems Identification of the relevant transactions Meldung an die Steuerbehörde UI für Korrektur und Wiedervorlage - möglichkeit The CESOP Compliance Service ensures the […]

[…] and scalable Legally compliant and future - proof With the CESOP Compliance Service, DPS offers a complete solution to fulfil the new requirements: Straightforward connection of the transaction and core banking systems Identification of the relevant transactions Meldung an die Steuerbehörde UI für Korrektur und Wiedervorlage - möglichkeit The CESOP Compliance Service ensures the […]

Payments There is hardly any other banking product where the digitalisation of the financial sector is as noticeable as in payment transactions: the bank customer of the future expects nothing less than to be able to make payments worldwide at any time in real time without media discontinuity. Our expertise covers the entire payment […]

[…] focus include establishing and developing customer relationships as well as managing and developing sales teams. René Henke complements the team with his in-depth experience in the payment transactions environment. For many years, he held responsible sales and key account positions, including the management of complex outsourcing contracts and the successful acquisition of strategic new […]

How can the Digital Euro work in everyday life? The ECB has tested this in practice for the first time as part of an innovation platform.

European securities settlement is facing a profound change. From 11 October 2027, the shortened T+1 settlement cycle will apply to transactions.

[…] for Instant Payments and VoP By Lukas Romeiser With the mandatory introduction of Instant Payments (IP) and the new ‘Verification of Payee’ (VoP), the dynamic in payment transactions continues to gather pace. Banks and payment service providers are faced with the challenge of providing reliable, secure and high-performance systems in the shortest possible time […]

At the end of May this year, the settlement cycle in securities business was shortened in the USA, Canada and Mexico. Following the initiative of the US Securities and Exchange Commission (SEC), the issue of T+1 is also increasingly taking centre stage for European markets.

On 21 May 2024 SWIFT issued an announcement regarding the end of the coexistence of MT and MX payment messages planned for November 2025.

The deadlines for the first reporting to the Central Electronic System of Payment Information (CESOP) are 30 April (EU) and 31 July (Germany). Banks face heavy fines if they fail to report or report incorrectly.

As part of the vdb Forum 2024, Joachim Dorschel, Managing Partner at DPS, shed light on the professional and technical challenges involved in implementing the EU reporting obligations to combat VAT fraud (CESOP).

[…] no longer: „What are the use cases?“ but rather: „As a financial institution, how do we deal with it now? Can money still be made with payment transactions in the SEPA zone? Or is it just a matter of implementing the requirements of the regulation as cost-effectively as possible?“ The regulation of the European […]

[…] the implementation of Directive (EU) 2015/2366 of 25 November 2015 („PSD2“) E-Commerce platforms such as marketplaces acting on behalf of the seller and the buyer in a transaction are regularly treated as PSPs and are therefore in scope of the obligations set forth in the CESOP Directive. This is due to the fact that […]

[…] the implementation of Directive (EU) 2015/2366 of 25 November 2015 („PSD2“) E-Commerce platforms such as marketplaces acting on behalf of the seller and the buyer in a transaction are regularly treated as PSPs and are therefore in scope of the obligations set forth in the CESOP Directive. This is due to the fact that […]

The European Commission has updated the reporting guidelines for the CESOP reporting obligation.

[…] Needless to say, Office tools can also be used to select data that is based on certain criteria. The same applies to generating XML files. However: individual transactions must be processed for CESOP. Depending on the bank’s respective business model, this can be many millions of data records per reporting quarter. A technical assignment […]

[…] the agenda. The complexity of CESOP is being underestimated. You have to bear in mind: in payment traffic, there have been no reporting obligations on an individual transaction basis to date. Accordingly, the architectures of the payment traffic systems are not designed for this. Where do you see the main challenges? There are two […]

[…] EU customers pay for the delivery of goods by bank transfer. The bank, as the payment service provider (PSP) of the payee, is responsible for recording these transactions. Institutions falling within the scope of the Directive must carefully consider whether the recorded payment transactions need to be reported. A reporting obligation exists, in particular, […]

[…] applied to the large institutions directly supervised by the EBA will now also become relevant for small and medium-sized banks and financial institutions. Regulation of real estate transactions by banks: Due to the strong increase in direct investments in real estate, this business is to receive attention in the new MaRisk. In this regard, […]

In July, DPS Engineering GmbH’s eCMS client was successfully EMVCo recertified for the operating system versions Windows 10, Windows 7, Windows XP, with validity until August 2025.

[…] Token-based Machine Payments using Machine Wallets to store payment tokens   Machine Payments have to master four technical and legal challenges in order to be viable. Authentication Transaction Security Attribution Security Data Security To describe the solution to these challenges would exceed the frame of this article, but the following picture gives a good […]

[…] Token-based Machine Payments using Machine Wallets to store payment tokens   Machine Payments have to master four technical and legal challenges in order to be viable. Authentication Transaction Security Attribution Security Data Security To describe the solution to these challenges would exceed the frame of this article, but the following picture gives a good […]

In this article, we take a closer look at the question of what practical relevance programmable money can actually have for payment transactions.

[…] Token-based Machine Payments using Machine Wallets to store payment tokens   Machine Payments have to master four technical and legal challenges in order to be viable. Authentication Transaction Security Attribution Security Data Security To describe the solution to these challenges would exceed the frame of this article, but the following picture gives a good […]

[…] Token-based Machine Payments using Machine Wallets to store payment tokens   Machine Payments have to master four technical and legal challenges in order to be viable. Authentication Transaction Security Attribution Security Data Security To describe the solution to these challenges would exceed the frame of this article, but the following picture gives a good […]

In several articles, we aim to contribute to this differentiated debate by asking what potential “programmable money” holds for payment transactions in all their facets.

[…] implementation of strategic IT programmes and the management of outsourcing, among other things. Mr Birkel is an expert in Legacy IT, Outsourcing Management, IT programmes and payment transactions. Sarah-Marie Holzgräfe Partner Sarah-Marie Holzgräfe, LL.M. is a partner in the DPS Group and is responsible for the area of compliance and regulation. After studying law […]

[…] Token-based Machine Payments using Machine Wallets to store payment tokens   Machine Payments have to master four technical and legal challenges in order to be viable. Authentication Transaction Security Attribution Security Data Security To describe the solution to these challenges would exceed the frame of this article, but the following picture gives a good […]

[…] Token-based Machine Payments using Machine Wallets to store payment tokens   Machine Payments have to master four technical and legal challenges in order to be viable. Authentication Transaction Security Attribution Security Data Security To describe the solution to these challenges would exceed the frame of this article, but the following picture gives a good […]

DPS supports banks in implementing the requirements for Instant Payments. The necessary changes cover all relevant areas of SEPA payment transactions.