The European banks have developed a plan to create a Single Euro Payments Area (SEPA). Consequently, the European Payments Council (EPC) was created, acting as a self regulated entity that comprises banks from all European countries.

Since 2002 banks have been investing in the creation of payment systems that allow the development of products compatible with financial services’ unique market. These new systems include credit transfers, direct debits and cards payments.

SIBS provides SEPA Credit Transfers service (SEPA CT SIBS), totally compatible with the rules and standards established by EPC.

Using the actual payments’ infrastructure, SIBS’ offer includes a set of functionalities that allow users to send and receive all the transactions established by the "SEPA Credit Transfer Scheme Rulebook," as well as a set of additional services, such as:

• Acceptance and conversion of multi-form payments;
• Payments routing;
• Cancellation Requests;
• 2 cycles processing availability, amongst others.

The synergies created with the existent infrastructure allow the participant institutions to easyly migrate to a new SEPA Credit Transfers scheme, simplifying the implementation regarding the actual interfaces with consequent costs reduction.

SIBS provides SEPA Direct Debit service (SEPA DD SIBS), totally compatible with EPC rules and standards. This service includes CORE and B2B scheme.

Using the actual payments infrastructure, SIBS’s offer includes a set of functionalities that allow users to send and receive all the transactions established by "SEPA CORE

Direct Debit Scheme Rulebook" and "SEPA B2B Direct Debit Scheme Rulebook", as well as a set of additional services, such as:

• Acceptance and conversion of multi-form payments;
• Payments routing;
• Formats and duplications validation;
• Account Debit Authorizations Management;
• Creditors Management;
• Cancellation Requests.

The synergies created with the existent infrastructure allow the participant institutions to easyly migrate to the new SEPA Direct Debits schemes, simplifying the implementation  regarding the actual interfaces with consequent costs reduction.

After the implementation of this new system, the European Payments Council (EPC) opened an international public contest for e-mandates development, a standard on which direct debits will lay on.

SIBS has been chosen due to the presentation of an innovative model that allows the electronic management of the operations in a secure way.

SEPA members see their offer strenghtned with a convenient and flexible service, without any concerns regarding deadlines or waste of time, facing companies and users needs. 

Therefore SIBS reinforce its position as an international payment systems processor.