SIX Payment Services to align direct debit and e-billing process

Source: SIX SIX Payment Services

SIX supports banks in promoting the e-bill combined with a new direct debit solution The Swiss banks have decided to promote the e-bill and to combine it with a new direct debit solution by 2016.

SIX Payment Services has been mandated to align the new direct debit solution with the automated e-billing processes and to replace the existing LSV+ and BDD procedures. The e-billing functionality shall be improved and upgraded at the same time.

The solution offers advantages for billers; debtors will basically be unaffected by the switchover. E-bills and direct debits will now be combined in one system with a common interface, which offers the greatest possible advantages for billers. For example, as of 2016, billers will receive direct debit registrations and cancellations electronically, as they are accustomed to with e-billing.

The new direct debit solution basically will have no effect on debtors who pay bills with direct debit. This means, for example, that existing debit authorizations will remain valid. The financial center gears up for e-billing The Swiss financial center is strategically gearing up for e-billing, the use and penetration of which shall be purposely boosted in order to meet the growing customer demand for a technical support payment procedure that is as simple as possible.

Towards this end, the e-billing service offer will be further improved and upgraded, which will benefit billers and their customers alike. However, the Swiss banks are aware that there will also be customers in the future who cannot or who do not want to use electronic channels. That is why a new direct debit solution is necessary parallel to the upgrading of the e-billing service.

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