Cegedim Helps Corporate Migrate to SEPA Direct Debit

Regulatory News:

Cegedim e-business, a specialist in global dematerialization, is helping corporate to migrate their systems to SEPA direct debit, the new pan-European payment instrument that will replace existing national direct debits.

SEPA, standardizing and unifying payment instruments across Europe

By adopting the Payment Services Directive (PSD), Europe is making new strides towards integrating and standardizing payment instruments across Europe. This migration is the first step towards the implementation of the Single Euro Payment Area (SEPA).

The new payment model will allow corporate to originate direct debits to clients with a bank account in Europe under the same regulatory and financial conditions as those used for domestic financial transactions.

Adoption of the SEPA direct debit will require creditors to adhere to new rules, specifically to manage and dematerialize new direct debit authorizations, called “SEPA Mandates”.

The direct debit is now the second most widely used payment method in Europe (after bank cards), with 20 billion transactions in 2010, of which 3.4 billion were in France.

To speed up the implementation of SEPA, the European Parliament has just set a deadline of February 1st, 2014 for the migration to SEPA. This adoption is forcing creditors to update in less than two years, their information systems to support the new SEPA rules.

Cegedim Global Payments facilitates and optimizes migration to SEPA direct debit

Cegedim anticipated the shortened migration time-frame and therefore has created Cegedim Global Payments with its innovative software suite MA€A. MA€A complies with all the requirements set by the European Payments Council and provides all functions for SEPA mandates management and related payments transactions. MA€A solution allows creditors to keep using their existing subscription and collection processes with minimum impact on existing IT infrastructures.

This offering will support all the legal requirements and needs for the European companies to migrate to SEPA before February 1st, 2014.

This offering is targeted to all European creditors in any business sector, including both B to B and B to C. MA€A solution takes into account any subscription and payment models while minimizing the impact to creditors’ information systems.

In addition, Cegedim offers to creditors a Paper Mandates Management service based on its experience in managing more than 1,000 e-invoicing projects and several hundred millions electronic healthcare transactions per year.

Furthermore, Cegedim is proud to offer a service that allows an end to end paperless contracts and mandates management, from subscription to electronic archiving (using its Sign & Archive services and CEG€Pass electronic signature solutions). These mechanisms are fully compliant with ISO 14641-1.

About Cegedim:

Founded in 1969, Cegedim is a global technology and services company specializing in the healthcare field. Cegedim supplies services, technological tools, specialized software, data flow management services and databases. Its offerings are targeted notably at healthcare industries, life sciences companies, healthcare professionals and insurance companies. The world leader in life sciences CRM, Cegedim is also one of the leading suppliers of strategic healthcare industry data. Cegedim employs 8,200 people in more than 80 countries and generated revenue of €911 million in 2011. Cegedim SA is listed in Paris (EURONEXT: CGM).

To learn more, please visit: www.cegedim.com

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