Equens and VocaLink extend SEPA Credit Transfer interoperability agreement to SEPA Direct Debits
15-09-2009
Hong Kong, 15 September 2009: Equens and VocaLink have extended their bilateral agreement to include SEPA Direct Debit (SDD) payment processing, in addition to the SEPA Credit Transfer (SCT) service already offered.
Today at Sibos - the global event for the financial sector - both companies signed a Letter of Intent (LOI) on this matter. The interoperability agreement helps to create a more competitive payments market as banks will be able to choose which processor they want to use for SDDs, as well as SCTs. It is the intention to go-live with the extended interconnection with the start of SDD on 2 November 2009.