You can find generic information about the messages sent between customer and bank when executing payments from this page.
This means two main types of messages:
- Payment initiation messages from customer to bank (pain.001.001.0x).
- Status reports from bank to customer (pain.002.001.0x).
These messages are defined by ISO 20022 Universal financial industry message scheme (UNIFI). Messages are based on XML (Extensible Mark-up Language). You can get full definition of these messages from the ISO 20022 web site: http://www.iso20022.org/.
SEPA is Single Euro Payments area and aims to create a zone for the euro in which all electronic payments are considered domestic. And where the differences between national and intra-European cross border payments do not exist. SEPA project aims to improve the efficiency of cross border payments and turn the fragmented national markets for euro payments into a single domestic one: SEPA will enable customers to make cashless euro payments to anyone located anywhere in the area using only a single bank account and a single set of payment instruments.