More NewsEBA Clearing to Launch Card Clearing Service on STEP2 Platform

EBA Clearing to Launch Card Clearing Service on STEP2 Platform

EBA Clearing announced at the EBAday conference in Helsinki, Finland that the company plans to implement a STEP2 card clearing service for a go-live in April 2015.

The new STEP2 service will be based on the SEPA card clearing framework developed by the Berlin Group, a group of 27 major players in the card industry from 25 countries in and beyond the eurozone. The aim of the Berlin Group is to standardise card clearing across Europe by leveraging single euro payments area (SEPA) infrastructure.

The service has been developed at the request of a group of major German banks, which have agreed to be the launching community of the STEP2 card clearing service. They will use the new service for clearing payments related to pre-authorised card transactions in line with the specifications of the German GIROCARD scheme.

EBA Clearing added that the new pan-European service on its euro retail payment platform will enable user banks to leverage their extensible markup language (XML) infrastructure and to re-use the interfaces and bank-internal systems they have put in place for the STEP2 SEPA direct debit (SDD) services.

The service is open to all banks and EBA Clearing invites all banks wishing to take advantage of the new service to express their interest.

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