The UCV/CEC extends its processing contract with STET to 2024
STET is proud to announce that the Centre for Exchange and Clearing in Belgium (UCV/CEC) has renewed its processing contract with STET until 2024.
La Défense, 23rd September 2019
STET provides Clearing and Settlement services to the Belgian banking community through the UCV/CEC for the full range of payment instruments including card payment. More recently, the CEC has been a major driver in the rapid ramp-up of Instant Payments in STET’s Instant Payments CSM, a shared platform with the French banking community.
The partnership between the UCV/CEC and STET dates back from an RFP process launched in 2011. The annual volume processed in the UCV/CEC is over 1.4 billion transactions.
Jean-Marie Vallée, CEO of STET: “We are really proud of this second renewal, reaching now a long term partnership with the UCV/CEC. This renewal arrives after the successful launch of Instant Payments in Belgium in March 2019, having now already processed more than 40 million Instant Payments transactions for the UCV/CEC.”
Karel Andries President of the UCV/CEC: “The renewal of the contract was a logical step, following the flawless experience in the previous years regarding the clearing of the Belgian retail payments. The UCV/CEC highly values its partnership with STET. After a challenging and sometimes bumpy road, we are very happy that Instant Payments were launched successfully in Belgium earlier this year. The system was built on sound foundations and we trust that our cooperation will be strengthened in the future.”