EBA CLEARING and IBERPAY join up for SEPA
6 Jul 2010:
EBA CLEARING and IBERPAY have linked up to activate a link for exchanging SEPA Direct Debits (SDD) between IBERPAY and the STEP2 platform.
The new link allows the two companies to further expand on their cooperation, which began in January 2008 when a connection was established between both platforms for SEPA Credit Transfers.
The links allow financial institutions that participate in the IBERPAY system to exchange SEPA payments with banks in 32 European countries. They also help to ensure full reachability in Spain for EBA CLEARING’s PE-ACH Services by providing STEP2 access to those banks that are not connected to the platform.
Manuel Cobo, chairman of the board of IBERPAY, said: “IBERPAY’s cooperation with EBA CLEARING provides our users with efficient solutions for exchanging both SEPA Credit Transfers and Direct Debits among financial institutions in the Single Euro Payments Area. Since the connection to STEP2 is established and hosted by IBERPAY, our institutions can benefit from the advantages in efficiency and cost-effectiveness of sending all their payments through one single channel.”
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