COPS (Compensation des Opérations du Pacifique Sud, "South Pacific Clearing") is the new system for exchanging credit transfers and direct debits in CFP francs (XPF) in New Caledonia, Wallis and Futuna and French Polynesia. Coordinated by the IEOM (the central bank for the CFP franc) together with local banks, it adopts the SEPA rules and the international ISO 20022 standard, adapted to the Pacific.
The final deadline was 30 September 2026: since that date, transfers and direct debits in the legacy format are being phased out. Whether you run a business in the CFP franc zone or pay suppliers and staff there, here is what you need to know.
COPS in 6 key facts
- September 2024: COPS credit transfers and direct debits launched in French Polynesia.
- November 2024: launch in New Caledonia (including Wallis and Futuna).
- 30 September 2026: legacy formats definitively abandoned, end of the migration period for businesses.
- 140 characters of remittance information, compared with 31 in the old transfer format.
- 14 calendar days: minimum advance notice to the debtor before a COPS direct debit.
- 35 characters maximum for the Unique Mandate Reference (UMR, "RUM" in French).
What changes with COPS?
| Legacy format | COPS | |
|---|---|---|
| File format | Historical local format | ISO 20022 XML |
| Bank details | RIB (French domestic format) | IBAN |
| Remittance information | 31 characters | 140 characters, passed on to the payee in full |
| Direct debit | Debit authorisation and request forms | COPS mandate (equivalent to the SEPA mandate) with UMR and creditor identifier |
| Who keeps the authorisation | Sent to the debtor's bank | Kept by the creditor |
Note: COPS covers operations in XPF between banks in the zone. Euro transfers between mainland France, the overseas departments and the Pacific territories use a separate scheme, SEPA COM Pacifique.
COPS credit transfers
A COPS credit transfer is a payment in XPF initiated by the payer, between two accounts held at banks in the COPS area. It can be used for one-off or recurring payments, single or in bulk (payroll, suppliers…).
Its main benefit is 140 characters of remittance information, passed on unchanged to the payee. You can include full invoice numbers, which makes reconciliation much easier for your partners.
The IEOM and the French Banking Federation recommend three prerequisites before sending COPS transfers:
- agree on the format of your COPS file exchanges with your bank;
- check with your software vendor or accountant that your tools (accounting, payroll, ERP) are compatible;
- collect the IBAN of every payee (suppliers, employees).
COPS direct debits
A COPS direct debit lets a creditor collect recurring or one-off invoices denominated in XPF. It works like a SEPA direct debit:
- Creditor identifier (ICS): mandatory to send COPS direct debits. Your bank requests it on your behalf from the Banque de France.
- Unique Mandate Reference (UMR): chosen freely by the creditor, unique for each mandate, 35 characters maximum.
- COPS mandate: signed by the debtor (on paper or electronically) and kept by the creditor throughout the relationship and for 13 months after it ends.
- Pre-notification: at least 14 calendar days before the due date, stating the date and amount of the debit.
- Submission to the bank: no earlier than 14 calendar days and no later than 1 banking day before the due date (depending on your contract).
- Expiry: a mandate unused for 36 months is no longer valid.
Good news for existing direct debits: thanks to the principle of mandate continuity, you do not need your customers to sign new mandates. You must, however, inform them of the switch to COPS direct debits and give them your creditor identifier, their mandate reference and a contact point for changes, cancellations or complaints. Stop instructions already registered by your debtors remain valid.
What it means for businesses
- Finance and accounting: obtain a creditor identifier, update electronic banking contracts, collect IBANs, adapt payment files.
- HR and payroll: collect employees' IBANs for salary transfers.
- Legal: update bank contracts, COPS mandate forms, customer information.
- IT: generate COPS credit transfer and direct debit XML files, manage mandate references.
A practical point that is often overlooked: the CFP franc has no subunit. Amounts in XPF are expressed as whole numbers, without decimals.
Coming soon to EasyBankFlow: your COPS files from Excel
Many businesses in New Caledonia and French Polynesia manage payroll, supplier payments or customer direct debits in a simple Excel file, and their software cannot always produce the new ISO 20022 XML format.
EasyBankFlow already converts Excel and CSV files into SEPA XML for European banks. Conversion to the COPS format, for credit transfers and direct debits in XPF, is coming soon. You will be able to upload your payment file and get an XML file ready to send to your bank (BCI, BNC, Société Générale Nouvelle-Calédonie, OPT, Socredo, Banque de Polynésie, Banque de Tahiti…).
Want to be notified when it launches or tell us about your needs? Get in touch.
FAQ: the COPS standard
What does COPS stand for?
COPS stands for Compensation des Opérations du Pacifique Sud (South Pacific Clearing). It is the system that aligns credit transfers and direct debits in CFP francs (XPF) with the ISO 20022 standard, modelled on European SEPA.
Which territories does COPS cover?
New Caledonia, Wallis and Futuna and French Polynesia, i.e. the CFP franc zone.
What is the COPS migration deadline?
30 September 2026 for New Caledonia and French Polynesia. After that date, transfers and direct debits in the legacy format disappear and can no longer be processed.
Do direct debit mandates need to be signed again?
No. Existing authorisations migrate automatically to COPS mandates (mandate continuity). The creditor only needs to inform debtors and give them its creditor identifier and their mandate reference.
How do I get a creditor identifier for COPS direct debits?
Ask your bank: it applies to the Banque de France on your behalf for a SEPA Creditor Identifier (ICS).
Does COPS apply to euro transfers?
No. COPS covers operations in XPF. Euro transfers between mainland France and the Pacific use SEPA COM Pacifique.
Sources: IEOM and French Banking Federation, brochure "COPS: Compensation des Opérations du Pacifique Sud – Vers un changement de normes dans les échanges bancaires"; ieom.fr/cops.