Equens processes 100 millionth SEPA transaction
27-08-2010
In mid-July, Equens processed the 100 millionth Single Euro Payments Area (SEPA) transaction since the introduction of SEPA Credit Transfers (SCT) on 28 January 2008.
This figure is a combination of SCT transactions processed by Equens within banks (intrabank) and also between banks (interbank). Since the introduction of SCT, transaction volumes have shown progressive growth (see graph).
The relatively large amount of processed SEPA transactions shows that our systems are ready for the bulk volume for both SCT and SEPA Direct Debits (SDD). However, a dual situation of SEPA next to domestic transactions results in extra complexity and costs for processors, banks and corporates. Therefore Equens strongly underlines the need for a regulatory end date for both SCT and SDD, and a full migration to SEPA as soon as possible.
Equens has been processing SCT transactions since 28 January 2008, and SDD transactions since 2 November 2009, the starting date of SDD. Furthermore, in terms of processing cross-border payments using bank cards, our infrastructure has been compliant with the SEPA Card Framework since 1 January 2008. This demonstrates that our systems are fully in line with the related international agreements of the European Payment Council (EPC), and comply with the requirements of SEPA.
