At a glance
The DIAS Credit Transfer (DCT) interbank service, as part of the DIAS Payment System, supports credit transfers and remittances in euro and is fully compliant with the European SEPA payment schemes SEPA Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst).
As part of DIAS’ strategy for the development of value-added services, DCT is a prerequisite for enabling IRIS Payments, RF/QR Payments, the DIAS Payment Service, as well as other interbank payment services.
SEPA Credit Transfer
SEPA Credit Transfer orders are submitted by the Payment Service Provider either via file transfer or online messaging, with no transaction amount limitations.
The system supports the sending and receiving of orders from Providers established in SEPA countries, while a fully automated test environment is also available to ensure smooth onboarding and operation for participating Providers.
Instant SEPA Credit Transfer
Instant SEPA Credit Transfer orders are processed within a few seconds, at any time of day and throughout the year (24/7/365), ensuring full protection of the beneficiary Payment Service Provider with respect to settlement.
Processing is carried out through online messaging between the Providers and the service, while connectivity with TIPS enables the sending and receiving of orders from Providers located anywhere within the SEPA area.
IRIS Proxy Lookup
The use of the additional IRIS Proxy Lookup service adopts the Instant SEPA Credit Transfer scheme and enables the Payment Service Provider’s customers to make instant credit transfers using an alias—such as a mobile phone number or Tax Identification Number (AFM)—instead of the beneficiary’s IBAN.
Service features:
- Submission of a payment order via e-banking or mobile banking, by selecting the IRIS payments option, without using the beneficiary’s IBAN, but instead using the beneficiary’s mobile phone number (for individuals) or AFM (for professionals)
- Daily maximum debit amount per payer account
- Notification to the beneficiary from their provider regarding the crediting of their account (via email, SMS or another message through mobile or internet banking)
- Notification to the payer regarding the status of their payment order
Bulk Payments
The additional Bulk Payments service is based on the SEPA Credit Transfer Scheme and enables businesses and organisations cooperating with Payment Service Providers (PSPs) to execute payments on a mass scale.
Indicative examples of bulk payments include:
- Payroll payments
- Purchase of goods and services
- Insurance claim settlements
- Supplier payments
Payments may also be executed through the use of payment codes. Indicative categories include:
- Tax payments
- Utility bill payments
- Social security contribution payments
