CAM integrated Cameo module helps tyre dealers process SEPA euro payments
On 1 February 2014 legislation came into effect within the Single Euro Payments Area (SEPA) to allow for euro transactions to be processed more easily across all European Union member states. Software systems supplier to the tyre industry, CAM (formerly Cam Systems) future proofed its Cameo system in preparation for the business payment transfer system, with an integrated module option helping to smooth the transition after the SEPA legislation’s introduction.
The Cameo SEPA payment system gives CAM customers the option to make and receive card and electronic payments in euros across all EU Member States and the Eurozone. CAM says the system is assisting pan-European trade and helping UK businesses compete by making it simpler and cheaper to send or receive euro payments.
Mike Allen, managing director of CAM, explains: “Our customers in the UK that have already set up direct debits to leave on certain days of the month now have an integrated tool within Cameo to manage the process because the facilities have already been built into the system so they don’t have to pay external services to conduct the transfer. SEPA makes electronic payments more efficient, cheaper and compliant, and Cameo is their route to market.”