19 October 2017

EBA Clearing ready for Sepa Direct Debit launch

12 October 2009  |  6043 views  |  0 Sepa

The clearing arm of the Euro Banking Association (EBA Clearing) says that its Step2 ACH platform is ready to begin processing Sepa Direct Debits, in line with the forthcoming November 2 deadline for the introduction of the new payment instruments.

EBA Clearing says it has successfully supported 71 SDD Core banks and 52 SDD B2B banks in carrying out SDD readiness testing for direct participation in Step2 prior to the start of the new schemes.

Banks participating in the launch have set up a dedicated Step2 SDD Implementation Forum to ensure a constant exchange of information prior to and during the SDD launch and ramp-up phase.

From November on, over 2000 direct and indirect participant banks will be able to exchange SDD Core and B2B collections via the pan European ACH (Pe-ach), says John Broxis, director, Step2 Services at EBA Clearing.

"We are expecting a progressive ramp-up of our SDD Core and B2B offerings, which will certainly gain in speed after a Sepa migration end date has been set," he adds. "Our Step2 system is ready to absorb rapidly rising volumes in a smooth fashion and to satisfy the growing needs of our participants around the new Sepa direct debit instruments."
KeywordsSEPA

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

European Commission moves closer to enforcing Sepa end-game

European Commission moves closer to enforcing Sepa end-game

01 October 2009  |  8697 views  |  2 comments
BTMU adopts Pelican for Sepa compliance

BTMU adopts Pelican for Sepa compliance

14 September 2009  |  4871 views  |  0 comments
New schemes vital to Sepa for cards success - ECB's Tumpel-Gugerell

New schemes vital to Sepa for cards success - ECB's Tumpel-Gugerell

10 September 2009  |  8761 views  |  0 comments
Sepa still looms large for UK corporates - survey

Sepa still looms large for UK corporates - survey

10 August 2009  |  7055 views  |  0 comments
Payment systems users warn of risks of Sepa failure

Payment systems users warn of risks of Sepa failure

21 July 2009  |  10778 views  |  4 comments
EBA Clearing banks launch direct debit implementation forum

EBA Clearing banks launch direct debit implementation forum

01 July 2009  |  6574 views  |  0 comments
Dutch banks introduce national Iban and BIC conversion system

Dutch banks introduce national Iban and BIC conversion system

29 June 2009  |  8720 views  |  0 comments
SIX Group plans Sepa direct debit service

SIX Group plans Sepa direct debit service

23 June 2009  |  6093 views  |  0 comments
EC consults on Sepa migration deadline

EC consults on Sepa migration deadline

09 June 2009  |  9989 views  |  5 comments
France delays Sepa Direct Debit launch

France delays Sepa Direct Debit launch

01 May 2009  |  15585 views  |  3 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15758 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8924 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8013 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7117 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6267 views comments | 6 tweets | 3 linkedin

Featured job

circa £250K total package
London

Find your next job