Payment Counterparty
This function enables the bank to create and maintain payment counterparties for each account holder. The payment counterparty describes the receiver (such as an account, address, or credit card) of payments, collections, or transfers.
Note
Each payment counterparty is based on a unique payment advice category, which describes the attributes of that counterparty.
Prerequisites
You have defined the customer as a business partner in the system.
You have provided users with permissions on the authorization object /FSPAM/_CP so that they can view, create or modify counterparties.
You have maintained the display format for the payment counterparty in Customizing for Financial Services by choosing
Account Management —> Product Management —> Payment Advice —> Counterparty
.
Activities
You can create or modify payment counterparties. You can delete a counterparty if it is not used in any payment advice.