EBA Clearing, a provider of pan- European payment infrastructure solutions, has unveiled Step2 card clearing service, which is expected to go-live in April next year.
According to the company, the new service will be based on the SEPA Card Clearing Framework developed by the Berlin Group, a group of 27 major players in the card industry from 25 countries in and beyond the Eurozone.
The new service will clear payments originated by card transactions in line with a pan-European card clearing framework
The service has been developed at the request of a group of major German banks who have agreed to be the launching community of the Step2 card clearing service, EBA Clearing added.
The banks will use the new service for clearing payments related to pre-authorised card transactions in line with the specifications of the German GIROCARD scheme.
The company also said that the service will be open to all banks.