equens

Milan/Utrecht, - Equens N.V. and Seceti S.p.A. - a hundred percent subsidiary of the ICBPI Group in Italy - agreed on collaborating to clear their SEPA 'cross community' payments via Equens and Seceti as of 1 January 2008. This collaboration allows both payment processors to offer European banks an alternative for clearing their payments throughout Europe. Clearing of payments means determining the amounts banks owe each other. After clearing, payments will be settled by the Central Banks.