Clear2Pay receives a government grant for its SEPA development strategy
The IWT (Flemish Innovation Institute for Science and Technology) have granted Clear2Pay a subsidy for the development of the Multipurpose Pan-European Direct Debit (M-PEDD) project on the basis of its Open Payment Framework. The IWT supports technology innovation projects of companies on the basis of two elements: the scientific level and innovative character of the applied technology and the long term economic value for the development of the region. The M-PEDD development broadens the scope of the ‘classic’ B2C (business-to-consumer) application of SEPA Direct Debit (SDD) to B2B (business-to- business) and G2C (government-to-consumer). In addition Electronic Bill Presentment and Payment (EBPP) functionality will be added to the M-PEDD product. The value of the grant is 130,000 euros. Clear2Pay has also recently been accepted as an Associate Member of the European Banking Association (EBA), an organisation at the heart of SEPA developments in the sense of knowledge exchange, promotion and co-operation.