Clear2Pay launches unified SEPA Direct Debits with SEPA Credit Transfers solution (SDD with SCT).

Strategic solution based on Open Payments Framework offers banks greater returns through flexibility of choice.

Brussels, 9 March, 2007 – Clear2Pay, the international software vendor of next generation payment solutions for financial institutions, today announces the availability of a modular combined SEPA Direct Debits and SEPA Credit Transfers solution. The solution is based upon the Open Payments Framework (OPF), a library of component building blocks built entirely on a Service Oriented Architecture (SOA). SDD with SCT has been launched in its combined form with upcoming developments to augment the standards in mind, such as the EBA’s “Priority Payments Scheme” and is as such a precursor to the larger strategic SEPA compliance objectives. The modularity of the solutions ensures banks the flexibility to pick and choose the functionality they need, whilst at the same time being sure that upcoming developments are catered for in a modular and strategic approach. This allows banks to deploy the combined solution as well as either SDD or SCT independently. Such powerful flexibility offers banks the ability to adopt SEPA at a pace that meets their requirements.

The combined solution covers all aspects of the direct debit lifecycle, with particular emphasis on vital business issues such as on-us and not on-us routing, timeline verifications, sophisticated mandate management, stop payments and the processing of so-called R-transactions (returns, refunds, reversals and rejections). Compliance with credit transfers under SEPA is less complicated than the parallel direct debit scheme. In view of the developments to augment the standard SCT system, such as the European Banking Association’s ‘Priority Payment Scheme’, under which payments can be executed full circle within 4 hours, as opposed to 3 days, the SDD with SCT solution has been built to meet this type of requirement and with the core flexibility to embrace future unknown requirements.

The business benefits ‘beyond SEPA compliance’ for banks will be highly dependent on strategic choices and implementation of Additional Optional Services under Rule Book 3. The two key elements that will be defined in detail at that stage, Debtor Mandate Flow and irrevocable B2B direct debits are already supported in the SDD solution launched today.

Additionally, once the EU agrees the standards for e-invoicing, which is seen a major enabler of SDD benefits for and by the corporate environment, the SDD-SCT solution can be integrated with Clear2Pay’s existing Electronic Bill Presentment & Payment (EBPP) solution. BillView Hub, as the solution is called, caters for integration of EBPP consolidation infrastructures, enabling the consolidation of interactions between originators, banks and debtors alike.

Mark Hartley, VP Strategy and Marketing at Clear2Pay comments: “We feel that combining SEPA Credit Transfers, one step up from basic SCT compliance, with SEPA Direct Debits offers greater returns. SDD and SCT contain many shared business services such as accounting, validations of BIC & IBAN, routing etc.” He continues: “As a result unique SDD and SCT specific flows and services are kept to a minimum, hence a combined platform offers a higher ROI and lower total cost of ownership. Ultimately if banks choose to stay in the processing of payments, they will have to combine their payments infrastructure into a single, manageable and cost efficient platform. SEPA presents the opportunity to move to a single consolidated platform and the Open Payments Framework (with solutions like SDD with SCT) offers them the ability to both start and finish that journey”

About SDD with SCT

The solution, based on the fully Service Oriented Architecture Open Payments Framework (OPF) offers the following functionality: SEPA Credit Transfers, SEPA Direct Debits, EBA ‘Priority Payments Scheme’, Card Payments, PE-ACH, STEP2, TARGET2, etc. compliancy, Cost-based Routing, BIC and IBAN support, Corporate Value Added Services, Exception Handling. On top if offers the following vital and core business benefits: Incoming and Outgoing Payment Transparency, Payment Processing In-sourcing and Outsourcing and the ability to Maximise STP, all tools for the banks to enhance margins and revenue.

About BillView Hub

BillView is an open and flexible solution for financial institutions integrating with domestic Electronic Bill Presentment and Payment (EBPP) consolidation infrastructures. The BillView Hub consists of two main components: BillView Integrator and BillView Consolidator, interfacing domestic bill consolidators in a flexible and configurable manner and interfacing with existing consolidator schemes, such as BPAY in Australia. BillView Consolidator interacts between billers and banks offering bill presentment and payment services. Depending on their needs banks can either interface directly into BillView Consolidator or use BillView Integrator for this.

About Clear2Pay

Clear2Pay is an innovative payments technology company focused on delivering globally applicable solutions for secure, timely and streamlined payments processing. Clear2Pay's Open Payments Framework (OPF) enables financial institutions to improve internal payments processing efficiencies whilst at the same time provide their clients with better payment services that are faster, with richer payments related information. Clear2Pay's solutions within the Open Payments Framework (SOA) offer financial institutions the ability to process payments through a centralised payments engine that utilises a library of re-useable business services across all payment types. The bank can thus combine new services models with existing infrastructures, thereby protecting previous investments whilst gradually moving to a more modern efficient payments environment. Clients include financial institutions such as ING, SEB Kort, VISA, MasterCard, ABN AMRO, Nordea, DnB NOR, Abbey National, Fortis Bank, NAB, Krung Thai Bank, ANZ and Commonwealth Bank. Clear2Pay operates out of Belgium (HQ), the Netherlands, Germany, Poland, Spain, United Kingdom, United States, China, Australia and Singapore and currently employs over 220 staff.
More information is available on www.clear2pay.com.

For more information:

Clear2Pay NV/SA
Conny Dorrestijn - VP Marketing and Communications
E:
P: +32 15 79 52 00
M: +31 651 067201