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STET-CORE
The STET-CORE system is a French interbank automated clearing house. STET SA, whose name refers to Systèmes Technologiques d'Echange et de Traitement (), is the system's operating company, based in Paris La Défense. CORE, whose name refers to COmpensation REtail ( being French for clearing), is the main platform developed by STET SA. The CORE platform supports the CORE(FR) clearing service for French banks, which in 2014 has been designated as a Systemically Important Payment System at the European level. CORE also supports other systems such as CEC (Centre for Exchange and Clearing, ) in Belgium. CORE is the largest European retail payment system by volume and value. STET has also developed a pan-European platform for instant payments named SEPA.EU. Overview STET was established in December 2004 by France's six main banks, namely BNP Paribas, Crédit Agricole, Crédit Mutuel, Groupe Caisse d'Épargne, Groupe Banque Populaire, and Société Générale, to replace a previou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systemically Important Payment System
A Systemically Important Payment System (SIPS) is a payment systems whose failure could potentially endanger the operation of the whole economy. In general, these are the major payment clearing systems or real-time gross settlement systems of individual countries, but in the case of Europe, there are certain pan-European payment systems. As of late 2023, the European Central Bank had designated five payment systems as SIPS, namely T2 (settlement system), T2, EURO1, STEP2, STET-CORE, CORE(FR), and Mastercard Europe. In the event of a bank failure, adherence to the rules for the operation of SIPS should prevent a domino effect whereby payment obligations of the failing bank are effected against the solvent banks. Clearly, this does not prevent the effects of a bank failure from spreading; however, it closes off one route. Operation of a SIPS In 2001, the Bank for International Settlements (BIS) issued the "Core Principles for Systemically Important Payment Systems", and these are s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EBA Clearing
EBA Clearing is a provider of pan-European payment infrastructure wholly owned by shareholders that consist of major European banks. It derives its name from the Euro Banking Association which was instrumental in its establishment in June 1998, but has always been a separate organization. EBA Clearing owns and operates major payment infrastructure in Europe for Euro payments between banks, including EURO1 for high value payments, STEP1 for payments of small and medium-sized banks, STEP2-T, a pan-European automated clearing house (PE-ACH), and RT1 for instant payments. Both EURO1 and STEP2-T have been identified as Systemically Important Payment Systems by the European Central Bank in 2014, together with TARGET2 and STET-CORE, CORE(FR). EBA Clearing is based in Paris and has representative offices in Brussels, Frankfurt, Helsinki, London and Milan. Given their pan-European significance, both EURO1 and STEP2-T are under direct oversight by the European Central Bank. History The o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of France
The Bank of France ( ) is the national central bank for France within the Eurosystem. It was the French central bank between 1800 and 1998, issuing the French franc. It does not translate its name to English, and thus calls itself ''Banque de France'' in all English communications. The Bank of France was originally established by Napoleon Bonaparte as a private-sector corporation with unique public status. It was granted note-issuance monopoly in Paris in 1803 and in the entire country in 1848. Long independent from direct political interference, it was brought under government control in 1936 and eventually nationalized in 1945. While other banks of issue were established in the French colonial empire, the Bank of France remained Metropolitan France's sole monetary authority until France's adoption of the euro as its currency. The Bank of France long held high prestige as an anchor of financial stability, especially before the monetary turmoil that followed World War I. In 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheque
A cheque (or check in American English) is a document that orders a bank, building society, or credit union, to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the ''drawer'', has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes peaked in or a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TIPANET
TIPANET (Transferts Interbancaires de Paiement Automatisés) is an international payment system set up by the European cooperative banks. Its shareholders were Natexis Banques Populaires, France; Banca Popolare Commercio e Industria, Italy; Istituto Centrale delle Banche Popolari Italiane, Italy; Banco Popular de España, Spain; Crédit Professionnel, Belgium; The Cooperative Bank plc, United Kingdom; Österreichische Volksbanken AG, Austria; Genossenschaftliche FinanzGruppe, Germany (DZ Bank, formally DG Bank, GZ Bank and WGZ Bank), and Caisse Centrale Desjardins Quebec, Canada. Its commercial counterpart and partner was UNICOPAY which failed in 2004 because it was overtaken by technological innovations such as the advent of SWIFT FileAct facilities and the creation of STEP2. The UNICOPAY principals were Caisse National de Crédit Agricole-Indosuez, France; Istituto Centrale delle Banche di Credito Cooperativo, Italy; KBC Bank (formerly CERA), Belgium; Lloyds TSB Bank, United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Funds Transfer
Electronic funds transfer (EFT) is the transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems. The funds transfer process generally consists of a series of electronic messages sent between financial institutions directing each to make the debit and credit accounting entries necessary to complete the transaction. An electronic funds transfer starts when the sending customer send an electronic instruction with the purpose of making payment to the beneficiary or the receiving customer. Process According to the United States Electronic Fund Transfer Act of 1978 it is "a funds transfer initiated through an electronic terminal, telephone, computer (including on-line banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer's account". EFT transactions are known by a number of names across countries a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Worldline SA
Worldline SA is a French payment processing company founded in 1972. In 2024 its revenue was €4.63 billion. History 1972–2004: beginnings and diversification Worldline's first activities in processing payment card transactions date back to the 1970s, first under the name of Sligos - resulting from the merger in 1973 between Sliga, a subsidiary of the Crédit Lyonnais bank, and Cegos - then, from the 1980s, with Segin, specializing in particular in transactions on Minitel. From the 1990s, the company diversified into online payments with Axime, which gave birth - after its merger with Sligos - to Atos Group. 2004–2014: integration into Atos In 2004, Atos integrated its payment and online services activities into a division then called Atos Worldline. In 2006, Atos Worldline included in its scope the Belgian companies Banksys, responsible for securing and guaranteeing electronic payments in Belgium, and Bank Card Company (BCC), specializing in the management of p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EquensWorldline
equensWorldline SE (formerly Equens) is a payment card and payment processor headquartered in Utrecht, Netherlands which serves the European market. Since 2019, it has been a wholly owned subsidiary of Worldline. As of 2020, equensWorldline had additional branch offices in Belgium, Finland, France, Germany, Italy, Luxembourg and sales representatives in the UK. History ''Equens'' was established in 2006 as Europe's first pan-European payment processor. This followed the merger of Europe's two largest payment processors: Interpay from The Netherlands and the Transaktionsinstitut für Zahlungsverkehrsdienstleistungen AG from Germany. In July 2008, ''Equens SE'' was formed as Societas Europaea, initially operating as a holding company. In September 2008, Equens SE extended its activities to Italia, by forming Equens Italia, a 50:50 joint venture with Italy's Istituto Centrale delle Banche Popolari Italiane. In 2011, Equens Italia became a wholly owned subsidiary of Equens SE, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Services Directive
The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, which replaced the Payment Services Directive (PSD), Directive 2007/64/EC) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The PSD's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations of payment providers and users. The key objectives of the PSD2 directive are creating a more integrated European payments market, making payments more secure and protecting consumers. Overview The SEPA (Single Euro Payments Area) is a self-regulatory initiative by the European banking sector represented in the European Payments Council, which defines the harmonization of payment products, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC France
HSBC Continental Europe, known until December 2020 as HSBC France SA, is a subsidiary of HSBC, headquartered in Paris. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. History When HSBC acquired Crédit Commercial de France (CCF) in 2000, CCF was operating with 650 branches and assets of €69 billion. In April 2000, HSBC announced its intention to acquire the bank and completed the deal in July. That month, HSBC Holdings listed on the Paris Stock Exchange for the first time. The acquisition enabled HSBC to establish itself in one of the main European markets and to build a strong platform in the euro zone. CCF continued to expand with the purchase of Banque Pelletier (2000) and Banque Hervet (2001). CCF won a bidding-war for Banque Hervet, which the French government was re-privatizing, when its bid of $480 million beat out bi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
