Interoperability agreement extends network for SEPA payments

9 September 2008

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 framework announced in October 2007 to help establish interoperability between banks and European CSMs . 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.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development