22 September 2017
Find out more

Bundesbank and Equens to start exchanging Sepa payments

25 October 2010  |  2193 views  |  0 Source: Deutsche Bundesbank

Deutsche Bundesbank and Equens SE will establish a bilateral link between their Clearing and Settlement Mechanisms (CSMs) for the processing of SEPA Credit Transfers, starting in November 2010.

The interconnection between the CSM operated by Equens and the 'SEPA Clearer' of the Retail Payment System (RPS), the Bundesbank's CSM, will allow them to reciprocally exchange SEPA Credit Transfers on behalf of their respective banking communities in a reliable, fast, and cost-efficient way. The cooperation is based on the Technical Interoperability Framework designed by the European Automated Clearing House Association (EACHA).

"We are pleased to contribute to the interoperability in European retail payments by implementing an interCSM link between Equens and the SEPA Clearer of Deutsche Bundesbank. The successful start of the cooperation will allow clients connected to both CSMs to exchange SEPA Credit Transfers with each other in a reliable, fast, and cost-efficient way," said Carl-Ludwig Thiele, member of the Executive Board of Deutsche Bundesbank.

Michael Steinbach, Chairman of Equens' Board of Directors: "We are always aiming to improve the services for our clients. The connection to Deutsche Bundesbank's CSM community is an important step for us in gaining full reach in Germany."

The new bilateral interoperability arrangement provides banks which are connected to the Equens CSM with reach with the banks connected to the Bundesbank's RPS SEPA Clearer and vice versa, with no need for connection to the reachable CSM. The transactions exchanged between the two CSMs are routed via SWIFT, whilst TARGET2 is used to perform the settlement.

 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

equensWorldline SE

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.vasco.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12753 views comments | 26 tweets | 42 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9578 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8280 views comments | 18 tweets | 27 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
8082 views comments | 13 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
7677 views comments | 16 tweets | 1 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job