Step forward for STEP2

EBA CLEARING has activated an enhanced extended remittance information service on its pan-European automated clearing house platform STEP2; the new service, launched yesterday, supports the inclusion of up to 999 structured invoice and credit note references in a single SEPA Credit Transfer.

This additional optional service (AOS), registered as AOS2 by the Finnish community with the European Payments Council, is available to any STEP2 user that wishes to offer the service to its customers. The service was already activated by eight STEP2 participant banks on the launch date and will be rolled out by five more financial institutions to their customers in the near future.

The extension of the AOS2 is particularly welcomed by large corporates in Finland, as it helps them to fully automate their payment processing, said Inkeri Tolvanen, head of payment systems at the Federation of Finnish Financial Services.