The STEP2 SEPA Core Direct Debit (SDD) Service provides credit institutions with an interbank processing infrastructure for euro direct debits in the Single Euro Payments Area. The STEP2 SDD Core Service validates, routes, clears, settles and delivers direct debit collections in line with the Scheme Rulebook of the European Payments Council for SEPA Core Direct Debits.

Key features and benefits

  • Highly resilient processing infrastructure

  • ISO 20022 XML messaging supported

  • Payment validation

  • R-messages processing

  • Payment warehousing up to D-14

  • Multiple distribution of direct debit information

  • SWIFTNet communications layer

  • File validation

  • Straight-Through Processing validation

  • Integrated settlement in T2 RTGS

  • Batch processing service level

  • Real-time browser-based position monitoring