Five leading CSMs announce Interoperability ahead of SEPA
02-10-2007
IPCSH15112005
SIBOS, 1 October 2007 - Equens, Iberpay, Seceti, Stet and VocaLink announced that they have jointly agreed to establish interoperability for the exchange of SEPA payments. Together, the Clearing & Settlement Mechanisms (CSMs) forming this agreement handled over 18 billion direct debit and credit transfer payments in 2006. The group has now commenced testing over SWIFTNet FileAct, and is making the necessary arrangements to ensure that interoperability is a reality before the launch of the Single Euro Payments Area (SEPA).
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