ClickandBuy Moves Ahead With SEPA Deal

ClickandBuy, located in New York and Germany, and the German-based bank, WestLB AG, announced today they are launching Europe’s first pilot project regarding SEPA – Single Euro Payments. Both companies will provide direct debit payment processing services, which will be in support of the introduction of the single Euro payments area in 2008.

I’ve mentioned ClickandBuy several times before, here and here, because they are right on top of the market in Europe and should soon be in the US. They have a ton of great features so look for my article and interview later this week.

The purpose of SEPA is to rid European countries of red tape during the settlement phase of the payment process. Currently, individuals and companies have to comply with a variety of legal frameworks in the payments field. Under this pilot program, WestLB and ClickandBuy will simplify European payments settlement at an early stage.