This interoperability agreement for SDD is based on the Interoperability Framework of the European Automated Clearing House Association (EACHA). By extending the agreement to the processing of SDD transactions both parties pursue a clear strategy, focused on future-proof payment processing solutions and European coverage and growth. The parties signed the agreement this morning at the Equens' stand at Sibos in Amsterdam.
Roland BÃ¶ff, Chief Executive Officer of SECB: With the experience gained with the processing of SEPA Credit Transfers through Equens it has been a logical step for us to extend our relationship towards the processing of SDD. With this step we continue to consequently follow our strategy to provide our customers with high quality products and services as well as connectivity to important Market Infrastructures.
Michel Stuijt, General Manager Market Management: "Equens is delighted that SECB's has expanded the agreement for SDD. We are convinced that this is the concrete proof of a powerful partnership that will benefit both SECB and Equens, as well as our clients. The expanded foothold gained in Switzerland is a next step in the continued expansion of Equens' position throughout Europe. We are proud of our full reach proposition in Europe, and the various alternatives we are able to offer our clients in terms of interoperability" .
SEPA Direct Debit (SDD) is one of the three major products of SEPA. SDD provides a common standard for direct debit transactions in the SEPA countries. These transactions are currently processed with different national schemes like 'Direct Debit' (United Kingdom), 'Lastschrift' (Germany) or 'Incasso' (the Netherlands).