A service of PBS and Clear2Pay first in Europe fully compliant with Step2

image PBS, a Nordic payment provider and Clear2Pay, a Belgian technology provider of next generation payment solutions for financial institutions, reported that the PBS Sepa service has been certified by the EBA for Direct Debit processing via Step2.

PBS is one of the largest payment processors outside the Euro area and as of today it has 120 clients for the SDD processing service. The service, powered by Clear2Pay’s Open Payment Framework technology, is one of the first of to be fully compliant with Step2.

Mark Hartley, VP Global Strategy and CMO and Clear2Pay said: "As the Sepa Direct Debit launch date approaches our discussions with clients increasingly focus on the operational effort and cost of being Sepa compliant. Many challenges in the area of the mandate management, supervision of transactions, tracing, cash and risk management have to be met and this is not an undertaking every bank is able or willing to undertake. PBS is a great partner because they understand the issues involved for banks and corporates in- and outside the Eurozone. Our platform has fulfilled its promise in that the Step2 compliance tests were executed in a short time frame without fault."


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