ARKK's Clear Vision: Focusing on the Customer
Last year was our ‘ARKK-iversary’, a celebration of 10 years since ARKK was founded in 2009. Much...
Learn morePlease use Chrome for a better browsing experience as Internet Explorer is not supported
Download Chrome
From the 1st of January 2024, Payment Service Providers (PSPs) in the European Union (EU) encountered new regulatory demands, as the quarterly disclosure of cross-border payment information is now required in every member state. The Central Electronic System of Payment information (CESOP) is designed to boost transparency and combat VAT fraud. With the first filing deadline set for the 30th of April, the time to act is now.
The CESOP regulatory framework is extensive, covering a wide range of financial institutions across the EU. This mandate extends to:
As with any new regulatory requirement, the scope can be somewhat hard to understand. So if you think you may fall into scope, ARKK can help you determine either way.
CESOP mandates the reporting of a vast range of payment transactions, from card payments to bank transfers and e-money movements. Reporting is necessary when transactions are cross-border, involve an EU-based payer, and exceed 25 transactions to the same payee within a quarter. Compliance requires detailed submission of payee identifiers, payment specifics, and transaction details.
The ARKK Automation Platform is designed to streamline the CESOP compliance journey by offering:
As the deadline for CESOP implementation approaches, assessing readiness and beginning the transition towards compliance is crucial. ARKK is ready to support you every step of the way, offering both our advanced platform and expert guidance to streamline your CESOP reporting process.
Contact us to explore your compliance needs and learn how the ARKK Automation Platform can simplify your CESOP reporting requirements.
Last year was our ‘ARKK-iversary’, a celebration of 10 years since ARKK was founded in 2009. Much...
Learn moreARKK's Information Security Officer, Richard Hammond, speaks about implementing and maintaining a...
Learn moreIt's incredible how quickly time passes. We've been speaking about MTD for years now and with the...
Learn moreWant to see first-hand what ARKK can do for your team? Request a demo today and we will be in touch shortly.