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SIX Interbank Clearing AG

"Swiss-made? direct debits for Europe - SIX Group launches new SEPA service for the European market

Zurich/Frankfurt, Germany (ots)

SIX Group, the Swiss financial
market infrastructure provider, will offer a SEPA-compatible direct 
debit service in cooperation with the SECB Swiss Euro Clearing Bank, 
Frankfurt, starting November 2, 2009. The offer is aimed at financial
institutions in Switzerland and 30 other countries within the Single 
Euro Payments Area (SEPA) that would like to offer their customers 
the option of collecting standardized euro direct debits throughout 
Europe.
The new joint service package was developed by SIX Interbank 
Clearing and SIX Paynet together with the SECB on behalf of the Swiss
financial center and with the participation of Swiss financial 
institutions. The service provides financial institutions of all 
sizes the option of outsourcing the processing of SEPA direct debits.
SIX Group and the SECB provide the technical requirements for the 
rule-confirming processing of SEPA direct debits 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).
Background to SEPA
The European Union and the European Central Bank are pushing ahead
with the creation of the Single Euro Payments Area (SEPA). 
Concomitantly, legal frameworks and technical standards for the 
settlement of cashless payment transactions are being harmonized. 
These efforts aim to make the euro zone markets freer and more open.
The first milestone was set by the European Payments Council (EPC)
with the introduction of SEPA credit transfers in 31 European 
countries, including Switzerland and Liechtenstein, in January 2008. 
SEPA direct debits will be launched in November 2009, with SEPA card 
payments to follow in 2010.

Kontakt:

SIX Group Ltd
Media Relations
Selnaustrasse 30
P.O. Box
CH-8021 Zurich
Phone: +41/58/854'26'75
Fax: +41/58/854'27'10
E-Mail: pressoffice@six-group.com
Internet: www.six-group.com

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