SIX Payment Services has been authorised by the Swiss banks to support the new direct debit service with the automated e-billing processes and to replace the existing LSV+ and BDD procedures.
The mandate follows a decision taken by the Swiss lenders to promote the e-bill and integrate it with a new direct debit solution by 2016.
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According to the company, the e-billing functionality delivers an array of benefits to billers, while debtors will mostly be unaffected by the switchover.
The payment technology provider said that e-bills and direct debits will be integrated in one system with a common interface.
Furthermore, the e-bill will allow debtors to receive, check and pay their bills directly in their e-banking system and save it as a PDF to subsequently release the completed payment slip for payment.
In the proposed new direct debit process, the debtor will be informed about the amount due by the creditor and the bank will debit this amount on the due date from the debtor’s account defined in the debit authorisation.
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By GlobalDataIn future, a new functionality will also be added, which will allow the debtor to raise objections within 30 days after notification of the debit for transactions with businesses and individuals.
