Logica Payments Solution Live for SEPA
Logica has deployed its retail payments solution, the Logica All Payments Solution (LAPS) High Volume. The deployment supports over 10 countries and multiple clearing and settlement mechanisms (including Equens for domestic NL payments, SEPA via the EBA, and a range of bilateral agreements) in a single instance. The deployment went live on day one of SEPA and the company says that it has been running smoothly since then. EBA Clearing has certified the solution for support of the EBA’s STEP2 SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) services. Logica says that solution can process up to 480 million payments within 24 hours and that it needed only eight hours to process 160 million transactions at a sustained rate of 5,555 transactions per second.