What is payment scheme in SAP FS-PE - Payment Engine?

SAP Term: payment scheme

• Component: FS-PE

• Component Name: Payment Engine

• Description: A scheme that identifies a specific scheme instrument within a service level as an alphanumeric code under which payments can be executed by a financial institution. &EXAMPLE& SEPA Credit Transfer SCT SEPA Direct Debit SDD

Smart SAP Assistant

• Key Concepts: 
  A payment scheme is a set of rules that define how payments are processed in the SAP Financial Services Payment Engine (FS-PE). It defines the payment methods, payment types, and payment terms that are available for processing payments. It also defines the order in which payments are processed and the conditions under which payments are accepted or rejected. 
  
  How to use it: 
  The payment scheme is used to define the payment methods, payment types, and payment terms that are available for processing payments. It also defines the order in which payments are processed and the conditions under which payments are accepted or rejected. The payment scheme is configured in the FS-PE Payment Engine and can be used to process payments from any source, including customers, vendors, and banks. 
  
  Tips & Tricks: 
  When configuring a payment scheme, it is important to consider the different types of payments that will be processed. Different types of payments may require different payment methods or terms. Additionally, it is important to consider the order in which payments should be processed and the conditions under which payments should be accepted or rejected. 
  
  Related Information: 
  For more information on configuring a payment scheme in FS-PE Payment Engine, please refer to the SAP Help documentation. Additionally, there are several online resources available that provide detailed information on configuring a payment scheme in FS-PE Payment Engine.