More NewsPBS Ready for SEPA Direct Debit

PBS Ready for SEPA Direct Debit

Danish PBS, an electronic payments specialist, can now provide a full service single euro payments area (SEPA) Direct Debit (SDD) solution to 94 national local and regional banks through a simple and efficient in-a-box direct debit solution that is compliant with the most recent SEPA requirement effective 2 November 2009. PBS will combine a SEPA-compliant direct debit product with advanced additional services (AOS), including surveillance facilities, interactive information, etc.

The core part of the solution was developed through a partnership with Belgian payments company Clear2Pay. Mark Hartley, vice president strategy and marketing, Clear2Pay, said: “Together with PBS we can offer banks an end-to-end solution embracing all necessary features such as mandate management, R-transactions [returns, refunds, reversals and rejections], etc. The robust services oriented architecture of the Open Payment Framework offers PBS the scalability they were looking for. Today they will offer the service to over 94 banks, but as recent research highlights, SDD processing is a volume-based activity and many more banks in the EU zone will consider outsourcing this service to leading processors such as PBS.”

The fourth largest bank in Denmark, Sydbank, is one of the banks has complied with the new SEPA requirements. “Now, we are ready to handle payments in euro within the SEPA framework on behalf of our customers. We experience a demand for a solution from companies with an international scope and private customers that will enable them to make euro payments. So, today we are proud to offer our customers the opportunity to make use of the SEPA direct debit service,” said Niels Skylvad, director, Sydbank.

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