Equens offers easy, low-cost SEPA Direct Debit Bank Modules
22-02-2011
Utrecht, 22 February 2011. Equens has extended its portfolio with yet another easy and low-cost solution for the handling of SEPA Direct Debits (SDD), the SDD Creditor Bank Module. This follows the successful SDD Debtor Bank Module, introduced in June 2009, which provides banks an with internet solution for receiving SDDs. More than ten clients have already gone live. The SDD Creditor Bank Module enables banks to send SDD transactions and fully comply with the SDD regulations and implementation guidelines drawn up by the European Payments Council (EPC).
Equens’ SDD Bank Modules make the complex processing of SDDs easy, whilst allowing banks to retain full control over the processing. With the Creditor Bank Module, banks can enter collections and R-transactions and download processing data at the click of the mouse. This state-of-the-art solution is especially appealing, since it requires only a limited investment and can be implemented within six weeks. Banks can log in to the new internet solution via Equens’ secure web portal to process their SDDs in an easy and user-friendly manner.
In practice
Any bank can use the internet solution, or ‘Creditor Bank Module’
. It enables them to send SDDs and determine online how these transactions should be processed.
SEPA Direct Debit is one of the three main products of SEPA, the Single Euro Payments Area, launched on 28 January 2008 with the implementation of the SEPA Credit Transfer and, prior to that, the SEPA Cards Framework. SDD provides a common standard for direct debit transactions in the participating European countries. These transactions are currently still processed using national systems such as Direct Debit (United Kingdom), Lastschrift (Germany) and Incasso (the Netherlands).
