What is external payment in SAP (FIN-FSCM-DP-DP - Digital Payments)?

SAP Term: external payment

• Component: FIN-FSCM-DP-DP

• Component Name: Digital Payments

• Description: Accounts Receivable FI-AR Payment made using an external channel, such as an online or mobile payment system, rather than a payment card.

Smart SAP Assistant

• Key Concepts: 
  External payment is a payment method in SAP that allows customers to pay for goods and services using a third-party payment provider. This payment method is used to facilitate payments between customers and vendors, and can be used for both domestic and international payments. It is part of the FIN-FSCM-DP-DP Digital Payments component. 
  
  How to use it: 
  External payments can be set up in SAP by creating a payment method in the system. This payment method will then be used to process payments from customers to vendors. The payment method can be configured to use a third-party payment provider, such as PayPal or Stripe, or it can be configured to use an internal bank account. Once the payment method is set up, it can be used to process payments from customers to vendors. 
  
  Tips & Tricks: 
  When setting up an external payment method in SAP, it is important to ensure that the payment provider is properly configured and that all necessary security measures are in place. Additionally, it is important to ensure that the payment provider is able to process payments in the currency of the customer’s country. 
  
  Related Information: 
  For more information on setting up external payments in SAP, please refer to the SAP Help Portal or contact your local SAP support team. Additionally, there are many online resources available that provide detailed instructions on how to set up external payments in SAP.