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CESOP Compliance Solution

Streamline CESOP reporting for all EU member states quarterly with our solution.

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So, what's CESOP all about?

CESOP, the Central Electronic System of Payment information, is a vital component of the recent EU directive affecting Payment Service Providers (PSPs). As of January 1, 2024, PSPs are mandated to report cross-border payment transaction data to combat VAT fraud in e-commerce.

Wondering if this affects you? Chances are, if you’re in any of these categories:

  • Credit institutions: Banks in Europe or European branches of non-EU banks.
  • E-money institutions: Providers of electronic payment services like e-wallets and electronic voucher issuers.
  • Payment institutions: Offering services such as card issuance, processing, and payment initiation.
  • Post office giro institutions: Providers of payment services.
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The challenge for Fintechs

  • Sourcing the correct information required.
  • Registration with each EU Member State to be able to provide the report.
  • Adapting to varying reporting formats across different EU Member States.
  • Submission process to each EU Member State is unique.
  • CESOP feedback may necessitate corrective actions for report structure or content.
  • Requiring significant time and personnel resources for quarterly reporting duties.
  • Non-compliance could lead to penalties for organizations from EU Member States up to 1 000 000 EUR.
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Inventi CESOP Solution

Our CESOP reporting SaaS solution is the key to streamlining quarterly reporting across all EU Member States. With our system, clients can effortlessly and correctly prepare the necessary information for CESOP, ensuring regulatory compliance without the hassle and investment in understanding all the different requirements and nuances for different EU Member States. The extensive validations and direct user feedback ensures that the provided data is truly compliant and accepted by the National Tax Administrators. 

Together with the solution, clients receive the necessary information for individual EU Member State registration and submission methods & requirements, trialed and tested in practice already, eliminating the significant time and effort required to prepare for reporting.

It’s the ultimate peace of mind, keeping you fully compliant with ease.

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