Payments technology company TIS will work with SAP to streamline Single Euro Payments Area [SEPA] compliance.
The TIS Cloud Platform will enable SEPA-compatible payment transactions for the SAP cloud programs, Business ByDesign and Financials OnDemand. Clients using these SAP programs can migrate their payment processes to a cloud environment. TIS services will be available in the SAP Online Store.
Companies will access processing functions via the Internet with costs billed each month. Business ByDesign users will not have to locally save cash-out files and then transmit these to the bankpayments will be initiated in the SAP environment and then directly transferred to the TIS Cloud Platform. In the other direction, account statements from the bank go to TIS and are retrieved there by Business ByDesign.
The two companies expect to find demand among payments companies that are challenged by SEPA requirements.
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