UTRECHT, Netherlands and LONDON, September 9 /PRNewswire/ -- VocaLink and Equens, have implemented a bilateral link for the exchange of SEPA payments. This is a major step in the implementation of the EACHA(1) framework announced in October 2007 to help establish interoperability between banks and European CSMs(2). The arrangement supports both companies' SEPA offering while helping to create a more competitive market by allowing banks to choose the payments processor or processors that best meet their needs.
Martin Wilson, Chief Commercial Officer at VocaLink, commented, "This launch with Equens illustrates our commitment to the EACHA framework and to providing our customers with a fast and cost-effective method of reaching the banks of other communities. This partnership enables us to improve the products and level of service we can offer our customers at a fraction of the cost of building a completely new network."
Manfred Schuck, General Manager Marketing & Sales at Equens: "This connection with VocaLink is a logical step for Equens to further expand its payments network in Europe. .Cooperation on infrastructure and competition on services will truly help making SEPA a success. Our network and services provide our clients a fast, efficient and reliable way to send and receive their payments throughout Europe."
The interoperability goal outlined by the EACHA framework fully supports the aims of SEPA and enables the simple and efficient exchange of SEPA payments between CSMs, banks and their customers As both CSMs have more than one settlement cycle per day, customers of VocaLink and Equens will be able to make payments on a same day basis.
About VocaLink
VocaLink is a specialist provider of transaction services to banks, their corporate customers and Government departments. It processes domestic and international automated payments and provides ATM switching solutions. On a peak day, the VocaLink automated payment platform processes over 90 million transactions and over half a billion in a month. Its switching platform connects the world's busiest ATM network of over 60,000 ATMs. Its Real-Time Payments platform provides the central infrastructure for the UK Faster Payments service. It is working with BGC to provide outsourced processing for the majority of Sweden's domestic payments.
Having pioneered electronic payments for over four decades, many of the world's top banks and their corporate customers rely on VocaLink to meet their transaction needs. Its processing services offer banks reach throughout the Single Euro Payments Area (SEPA) and beyond; and are complemented by value-added services that leverage industry expertise and technical capabilities.
Please visit http://www.vocalink.com for more information
About Equens
Equens SE is the first truly pan-European, full-service payment processor. As one of the largest and most innovative payment processors in Europe, Equens is leading the market for future-proof payments and card processing solutions. Thanks to an extensive and competitive service portfolio and a flexible, customer-orientated approach, the company seamlessly meets the requirements of the European payments market. With an annual volume of 7.3 billion payments and 2.1 billion POS and ATM transactions, Equens has a market share of more than 15% within the euro zone. By continuously pursuing further growth and translating the achieved synergy benefits and economies of scale into advantages for the customer, the company contributes to the efficiency of European payments.
Please visit http://www.equens.com for more information
(1) European Automated Clearing House Association
(2) Clearing & Settlement Mechanisms
For further information please contact: Gerald Cross at the JJ Group, +44(0)1865-343100 or vocalink@thejjgroup.com; Kevin Monks at VocaLink, +44(0)870-920-8574 or kevin.monks@vocalink.com; Deborah Souter at VocaLink, +44(0)870-920-8651 or deborah.souter@vocalink.com; Marcel Woutersen, T: +31(0)30-283-54-27, M: +31(0)6-29-05-08-71, E: marcel.woutersen@nl.equens.com; Jörg Richter, T: +49(0)69-58-99-93-6-03-62, M: +49(0)1-72-6-13-95-97, E: joerg.richter@de.equens.com
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