Invoicing 3 .

Invoicing 10 .

Topic What

the e invoicing framework

9 . 2007O0002 EN 23.11.2009 002.001 56 B Invoicing 10 .

ATMs SCoTs Others

the invoicing currency if indicated on the customs declaration

Several discussions have taken place with the ECB on the invoicing currency .

They are unable to integrate their invoicing with their payments .

The goal is to develop an e invoicing framework by the end of 2009 .

ECB Sixth single euro payments area ( SEPA ) progress report November 2008

Therefore , the invoicing currency for exports and imports will be reported at an aggregated level .

This work is being under taken by the European Commission 's exper t group on e invoicing .

several central banks also provide statistics on the use of the euro in invoicing external transactions .

Every two years Member States shall compile statistics on trade broken down by invoicing currency .

E invoicing and e reconciliation are value added services that allow customers to receive fully electronic bills ( e invoicing ) , or businesses and public administrations to have their records automatically updated once bills are settled ( e reconciliation ) .

E invoicing using payment infrastructures is a new form of service with exceptional potential .

Appendix IIA FEE SCHEDULE AND INVOICING FOR INTERNET BASED ACCESS Fees for direct participants 1 .

2007O0002 EN 23.11.2009 002.001 55 B Appendix VI FEE SCHEDULE AND INVOICING Fees for direct participants 1 .

2007O0002 EN 22.11.2010 003.001 70 B Appendix VI FEE SCHEDULE AND INVOICING Fees for direct participants 1 .

If the invoicing currency for exports is not available on the customs declaration , a survey shall be carried out to collect the required data .

Based on the framework , service providers should be able to offer e invoicing services to their customer across SEPA .

A number of European countries already use e invoicing services .

However , as work progressed , aspects such as e mandates , e invoicing and so on gained particular importance .

Outside the EPC , work has started on one of the most frequently used value added ser vices electronic invoicing .

These include e invoicing , mobile or internet payment initiation , e tickets for airlines and e reconciliation .

Value added services , such as e invoicing and e reconciliation , will help companies to optimise further their handling of payments .

Currently , several Eurosystem and ESCB central banks also collect information on invoicing practices in external trade in goods and services , mainly via collection systems based on bank settlements .

The use of payment cards will be more efficient , as consumers will be able to use the same card for all euro payments .

ECB Annual Report 2009 pan European online payment solution , 21 as well as on mobile payments and electronic invoicing .

E invoicing is an essential element in any e government initiative and could preferably be implemented jointly with SEPA .

2007O0002 EN 22.11.2010 003.001 118 M3 Appendix IIA FEE SCHEDULE AND INVOICING FOR INTERNET BASED ACCESS Fees for direct participants 1 .

Both standards should allow the incorporation of structured customer information , in order to facilitate e invoicing and automatic account reconciliation .

In addition to the core SEPA products that are currently being developed , new opportunities , such as e invoicing , can provide major benefits .

The purpose of the framework is to establish a common conceptual structure to support the provision of e invoicing services in an open and interoperable manner across Europe .

Current e invoicing services should thus not become obsolete , but the framework should define requirements that allow these solutions to become fully compatible with SEPA .

Member States shall compile the statistics using a representative sample of records on imports and exports from customs declarations which contain the data on the invoicing currency .

This should encourage technological progress and the realisation of new product opportunities , such as e invoicing , which can provide major benefits to the wider economy .

They may issue financial instruments , such as bonds and notes , denominated in euro . They may invoice and pay in euro internationally .

E invoicing saves considerable costs and resources as almost all paper and manual work is deleted from the payment process .

Some such services , such as e invoicing or e reconciliation , are considered helpful in driving innovation and in fostering more efficient payment services , as they add value to the core payments .

This should encourage technological progress and the realisation of new product opportunities , such as e payments , e invoicing and e reconciliation , GOVERNANCE OF SEPA SCHEMES AND FRAMEWORKS which can provide major benefits to the wider economy .

In the case of direct participants , the following invoicing rules apply . The direct participant shall receive the invoice for the previous month specifying the fees to be paid , no later than on the fifth business day of the following month .

offered all the way from one customer to the other customer , both in the customer to bank domain and in the bank to customer domain , i.e. respectively payment initiation and notification of payment , account report and account statement . The Eurosystem would like to invite every bank to offer the standardised messages as a minimum to their professional customers .

In the case of direct participants , the following invoicing rules apply . The direct participant shall receive the invoice for the previous month specifying the fees to be paid , no later than on the fifth business day of the following month .