What is channel in SAP FS-PE - Payment Engine?

SAP Term: channel

• Component: FS-PE

• Component Name: Payment Engine

• Description: Method by which inbound or outbound payments are processed for example, CHIPS.

Smart SAP Assistant

• Key Concepts: 
  A channel in the SAP FS-PE Payment Engine is a logical representation of a payment method. It is used to define the payment methods that are available to customers and the parameters associated with each payment method. 
  
  How to use it: 
  The SAP FS-PE Payment Engine allows users to create and manage channels for different payment methods. Each channel can be configured with different parameters such as payment type, currency, and payment limits. The channels can then be used to process payments from customers. 
  
  Tips & Tricks: 
  When creating a new channel, it is important to ensure that all of the necessary parameters are configured correctly. This will ensure that payments are processed correctly and that customers have access to the payment methods they need. 
  
  Related Information: 
  The SAP FS-PE Payment Engine also allows users to configure payment rules, which can be used to automate certain aspects of the payment process. Additionally, the Payment Engine can be integrated with other SAP systems such as SAP ERP and SAP CRM.