EBA CLEARING to Launch Pan-European E-Payment Service

June 16, 2011

The EBA CLEARING Company yesterday announced plans to develop and promote a pan-European e-payment service to facilitate online shopping transactions via consumers’ online banking portals. “We believe that the time has come to explore a collaborative initiative in the area of e-services and in particular e-payments,” said Giorgio Ferrero, chairman of EBA CLEARING. “The European e-commerce market is witnessing growth rates of 10 to 20 percent per year and there is a keen interest among customers for secure online payment services facilitated by providers they know and trust. In parallel, B2B models are more and more moving to B2C-mode usability and to a retail-like shopping experience. We feel that EBA CLEARING is well-placed to deliver the cornerstone for the new pan-European payments infrastructure that our banks will need in order to roll out the benefits of e-SEPA to their customers.” EBA CLEARING presented a blueprint document to its shareholders yesterday, outlining the e-services offering, which it hopes will begin a dialogue with all relevant stakeholders from the consumer side, the e-merchants and the banks. The company said it aims to launch a pilot in summer 2012.