Today at Sibos, Direct Debit Limited, the Bacs-approved payments-management software provider, announced the availability of Single Euro Payments Area (Sepa) and Society for Worldwide Interbank Financial Telecommunication (Swift) modules for its PayCentre payments-management platform.
PayCentre is a modular payments platform based on Microsoft.NET technology. The platform helps organisations automate and streamline the lifecycle of credit and debit card, Direct Debit and Direct Credit payments processes. Now, with SEPA and SWIFT functionality, the system can process multiple payment types, including European and international transactions through a single user interface.
Direct Debit Limited designed the SEPA module in PayCentre to allow organisations to make SEPA Credit Transfers and collect SEPA Direct Debit payments automatically. The module submits instructions to multiple clearing and settlement mechanisms (CSMs) and banks and automates processes such as importing payments data and validating bank account details.
The SWIFT module in PayCentre enables organisations to make international payments through one secure system. It produces payment files in SWIFT format without manual processing and exchanges standardised financial messages with banks and other organisations to transfer payment orders securely.
A Microsoft Gold Certified Partner, Direct Debit Limited is committed to providing customers with innovative and robust software. PayCentre is based on the Microsoft.NET platform, which provides a familiar interface and experience for users.
Karen Cone, General Manager, Worldwide Financial Services at Microsoft Corporation, said "SEPA still poses significant challenges for banks and corporations to provide seamless payments integration and validations. The Microsoft platform delivers a solid and secure foundation for developing innovative industry solutions that meet the critical needs brought about by sweeping changes in the payments landscape. We are pleased to be working with partners like Direct Debit Limited to extend the value of our platform with deep industry knowledge and expertise."
The SEPA and SWIFT modules help organisations to save time and money by removing the need for manual data en entry and reconciliation as well as providing better insight into cash flow position. In addition the SEPA module meets the requirements of the European Payments Council (EPC) for SEPA Direct Debits and Credit Transfers.
"In an environment where meeting regulations is an ever-changing task and standardisation is increasingly the trend, our clients need solutions that offer the flexibility to meet today's challenges," said Gerry Hill, Managing Director, Direct Debit Limited. "Working with Microsoft technologies, we have designed PayCentre and its modules to eliminate the complexity often associated with payments and compliance. We look forward to building on our partnership with Microsoft, as we continue to develop innovative payments systems in the future."