PBS teams with Clear2Pay on combined Sepa direct debit and credit transfer service

PBS teams with Clear2Pay on combined Sepa direct debit and credit transfer service

Danish payment body PBS has implemented technology from Brussels-based Clear2Pay to provide its bank and corporate clients with a combined Sepa-compliant direct debit and credit transfer service.

PBS has implemented a platform based on Clear2Pay's Open Payment Framework (OPF), a library of component building blocks the vendor says is built on a service-oriented architecture (SOA).

The Danish outfit said in January that 117 financial institutions had signed up for a direct debit payment processing service. In today's statement PBS says the service is aimed at corporate initiators (creditors) as well as debtor and creditor banks in Denmark and across the European community.

"Although Denmark is currently not in the Euro zone, our customers that do business in the EU-market need to be Sepa-compliant and as the leading payments provider in the region we want to be first to market with Sepa-related services," says Flemming Jensen, CEO of PBS.

"With this solution PBS can offer their clients an end-to-end solution embracing all necessary features such as mandate management, R-transactions etc," adds Mark Hartley, VP strategy and marketing, Clear2Pay. "PBS was looking for strategic enterprise-wide capabilities so that they can easily extend this solution to also embrace Sepa credit transfers. The robust services oriented architecture offers PBS the scalability they were looking for."

Hartley says Sepa-comipliant direct debit processing is a volume-based activity that many banks in the EU zone will consider outsourcing to processors such as PBS.

Clear2Pay is one of the exhibitors at this year's EBADay, the the annual European payments forum held by Finextra Research and the Euro Banking Association (EBA) which kicks of today at the Marina Congress Centre in Helsinki.

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