Equens processes first SEPA Direct Debit payments

We have already been processing SEPA Credit Transfers (SCT) as of 28 January 2008. Furthermore, in terms of processing cross-border payments using bank cards, our infrastructure has already complied with the SEPA Card Framework since 1 January 2008. 

Choice of SDD solutions

In order to facilitate SDD processing for banks, Equens offers banks a choice of SDD solutions. These vary from a comprehensive, full-STP, tailor-made back office solution to an easy, economical, state-of-the-art web based solution with a short time-to-market and minimal effort for implementation. With this solution, the Debtor Bank Module, banks will be able to receive SDDs and fully comply with the SDD regulations and implementation guidelines drawn up by the European Payments Council (EPC). 

Call for setting an end-date

SEPA will contribute to greater competition, new products, improved efficiency and lower costs as a result of economies of scale. Michael Steinbach, Chairman of the Board of Directors at Equens: "In the beginning, we expect that SDD volumes will remain relatively low. After nearly 2 years of processing, this is still the case for SCT payments, compared to the overall number of daily processed credit transfers. It is in the interest of all stakeholders involved that these volumes will increase. The EPC has taken action and lived up to their promises to develop SEPA schemes for  Europe. It is now up to the European Commission to take up their responsibility by setting an end-date. By doing so, the necessary speed will be gained and a too long and costly dual period will be avoided. Let’s not forget: SEPA is important for Europe as a whole and not only for the financial industry."