Navigation Path: Home > Payments & Markets > SEPA > Glossary and list of abbreviations
| ACH | Automated clearing house Features: Compliance – Infrastructures |
| BIC | Business identifier code, formerly known as bank identifier code Features: Standards |
| CSM | Clearing and settlement mechanism Features: Compliance – Infrastructures |
| EPC | European Payments Council Stakeholders |
| eSEPA | Innovative products and services using modern information and communication technologies within the context of Innovation |
| IBAN | International Bank Account Number Features: Standards |
| ISO20022 XML | Mandatory message format for transmission of SEPA transactions, inter alia between PSPs Features: Standards |
| MIF | Multilateral Interchange Fee. Collective agreement on mutual fees between more than two PSPs, for instance applied on card payments or direct debit transactions. Regulation 260/2012 bans MIFs on direct debit transactions. |
| NASO | National Adherence Support Organisation About: Countries |
| PE-ACH | Pan-European automated clearing house F eatures: Compliance – Infrastructures |
| PSD | Payment Services Directive (Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services) Features: Legal basis |
| PSP | Payment service provider. A bank or other payment institution offering payment services to customers, as defined in the PSD |
| PSU | Payment service user. A natural or legal person making use of a payment service, either as payer or payee. |
| SCF | SEPA Cards Framework About: Payment instruments |
| SCT | SEPA credit transfer About: Payment instruments |
| SDD | SEPA direct debit About: Payment instruments |
| SEPA | Single Euro Payments Area |
