More NewsSIX Group Launches New SEPA Direct Debit Service

SIX Group Launches New SEPA Direct Debit Service

SIX Group will offer a SEPA-compatible direct debit service in cooperation with the SECB Swiss Euro Clearing Bank, Frankfurt starting 2 November 2009, the single euro payments area Direct Debit (SDD) scheme’s launch date. The offer is aimed at financial institutions in Switzerland and 30 other countries within SEPA that would like to offer their customers the option of collecting standardised euro direct debits throughout Europe.

SIX Interbank Clearing and SIX Paynet, together with the SECB on behalf of the Swiss financial centre and with participation of Swiss financial institutions, developed the new joint service package. The service provides financial institutions of all sizes the option of outsourcing the processing of SDDs. SIX Group and the SECB provide the technical requirements for the rule-confirming processing of SDDs throughout Europe. This means that financial institutions throughout the SEPA zone can introduce euro direct debits for their customers easily, quickly and inexpensively without having to make expensive adaptations to their internal payment traffic infrastructure (e.g. e-banking applications).

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