European Direct Debit Association established

Source: European Direct Debit Association

The European Direct Debit Association (EDDA) was recently launched at the 2005 International Payments Conference in London.

The core aim is to bring together the key players in the direct debiting arena. Achieving this should deliver greater co-operation between banks, the EU and the business community, ultimately yielding increased usage, understanding and better domestic and EU-wide systems. This result is likely to hold benefits for all business communities operating in Europe.

EDDA will work closely with the banking and business communities, and other interested bodies across Europe to establish a unique direct debit and credit research and information sharing network. It was launched by UK-based company Direct Debit Limited that specialises in this area.

Membership is completely free, and offers access to a unique range of discussion groups, seminars, training, services, information and data on automated payments. EDDA membership can help any organisation begin to process direct debits, optimise their use and find the relevant products and services that will enable them to streamline and grow their payments processes.

The association will also give a voice to European originators when the first draft of the SEPA rules are released later this year, a project aimed at eliminating cross-border transaction issues within the EU, saving many businesses substantial sums.

As the association itself grows, its objective is to create a unique environment and knowledge centre for direct debit that will generate co-operation and information sharing across the UK and Europe, achieving better deals for suppliers, businesses and ultimately consumers.

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