National Electronic Clearing System
Indra developed the National Electronic Clearing System (NECS), through which all inter-bank operations in Spain related to Payment Instruments (cheques, credit transfers, direct debits, bank drafts, etc.) are exchanged, cleared and settled.
Since 2005 this has been managed by Sociedad Española de Sistemas de Pago, S.A. (Iberpay).
With the arrival of SEPA (Single Euro Payments Area), European citizens, companies and public agencies can make payments in euros. The Spanish community, through Iberpay, undertook this project jointly with Indra, creating a Multilateral Exchange Between Financial Institutions.
During the first phase of the project, SCT (SEPA Credit Transfer) transfers were implemented and, in the second phase, SDD (SEPA Direct Debit) direct debit, which began operating in November 1, 2009.
- Finance
- iberpay
