News

Bank of Estonia upgrades payment system to meet SEPA conditions

Tuesday 22 January 2013 13:03 CET | News

Financial institution Bank of Estonia (Eesti Pank) has begun updating its payments system to meet the conditions of the single euro payments area (SEPA) with the help of STET, which already provides a payments platform for France-based banks.

To ensure that the new STET service is introduced in the Estonian market, Eesti Pank is urging all commercial banks operating in Estonia to join the system. It hopes that all current members of the ESTA settlement system will continue to use the single payment system provided by Eesti Pank for their domestic payments at least. The final choice of solution and the conditions for bank clients will be clarified once the negotiations between the commercial banks and Eesti Pank are completed.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Bank of Estonia, Eesti Pank, SEPA, payments
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events