WestLB AG and ClickandBuy have launched the first Europe-wide pilot project on the future Single Euro Payments Area (SEPA). Under the model project, WestLB and ClickandBuy will simplify European payments settlement at an early stage. The aim is to significantly reduce the administrative costs of companies operating throughout Europe. “ClickandBuy operates in all European countries. For each country the company has to take into account a wide range of technical requirements and the legal framework, which is expensive and ties up resources. We will change this, and we will jointly introduce the new payment formats”, says Steffen Kowalski, Head of Transaction Services at WestLB and a member of the European Payments Council.
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