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diff --git a/libeufin/sepa.rst b/libeufin/sepa.rst new file mode 100644 index 00000000..9555256a --- /dev/null +++ b/libeufin/sepa.rst @@ -0,0 +1,24 @@ +SEPA Payments +############# + +This page collects reference materials and details for specifics of SEPA payments. + +SEPA Credit Transfer (SCT) +========================== + +SCT is a "normal" bank transfer. Details (terminology, data definitions, flow diagrams) can be found in the EPC's +`SCT rulebook <https://www.europeanpaymentscouncil.eu/document-library/rulebooks/sepa-credit-transfer-rulebook>`__. + + +Reject vs Return vs Recall +-------------------------- + +* A **rejected** payment is refused by the originator bank or the + clearing and settlement layer. +* A **returned** payment is refused by the beneficiary's bank via a + counter-transaction over the settlement layer. +* A payment is **recalled** when the originator's bank (potentially + requested by the originator) wants to "undo" a SCT. + +SEPA currently does **not** directly support a mechanism for the **beneficiary** to return +a payment. |