Equens and Italian Seceti Collaborate on SEPA
Equens and Seceti have agreed to collaborate to clear their SEPA ‘cross community’ payments via Equens and Seceti as of 1 January 2008. This collaboration is designed to allow both payment processors to offer European banks an alternative for clearing their payments throughout Europe. After clearing, payments will be settled by the central banks. The European payments market is changing significantly as a result of harmonisation and standardisation fostered by SEPA. As reachability and interoperability between the different European payment processors and banks is required, service payment processors need to assure clients that any payment sent to any other bank account in the EU will reach its destination within the agreed time frame. The accessibility of every bank account number within the EU can only be guaranteed when there is systematic and consistent access to banks and payment processors.