Experian's SEPA Payments Services Adopted by Microsoft
LONDON, October 30, 2012
LONDON, October 30, 2012 /PRNewswire/ --
Experian's Bank Wizard Global has been adopted by Microsoft to handle accurate
and timely commission payments to Microsoft Corp's international network of
re-sellers and supply vendors.
Under new Single Euro Payments Area (SEPA) rules, the use of the International
Bank Account Number (IBAN) to uniquely identify the bank and account of
payment beneficiaries will soon become mandatory for all international and
domestic euro payments. Major corporate treasuries, such as Microsoft, are
proactively implementing solutions to ensure compliance in advance of the
Experian's Bank Wizard Globalvalidates and converts bank account data for
Microsoft across 228 territories to the appropriate format for use at the
point of collection or payment initiation. This will help Microsoft to ensure
smooth, timely and successful delivery of payments using multiple payment
mechanisms through various banking associates and payment service providers.
Experian's software and decision analytics will also enable Microsoft to
correctly configure bank account information to the standard IBAN format,
ensuring that its SEPA payments are compliant ahead of the February 2014 SEPA
Colin Kerr, Industry Solutions Manager, Worldwide Financial Services at
Microsoft, commented: "Supply chains for organizations with a global business
are complex. Payments need to be delivered in a timely and reliable manner to
all participants regardless of their global location. The Experian solution,
based on Microsoft technology, helps cut through that complexity, improves
service levels and enables supply associates to receive payments as quickly
and painlessly as possible."
Jonathan Williams, Director of Payment Strategy at Experian, added: "Bank
Wizard Global has enabled Microsoft to provide a faster, cost-effective
service to re-sellers and supply associates, since it ensures that transaction
and payment details are accurate and valid from the outset. It also gives the
company full confidence in its payments systems already being fully
Experian is the leading global information services company, providing data
and analytical tools to clients around the world. The Group helps businesses
to manage credit risk, prevent fraud, target marketing offers and automate
decision making. Experian also helps individuals with credit checks, bank
account validation and protection against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a
constituent of the FTSE 100 index. Total revenue for the year ended 31 March
2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44
countries and has its corporate headquarters in Dublin, Ireland, with
operational headquarters in Nottingham, UK; California, US; and São Paulo,
For more information, visit http://www.experianplc.com .
PR Contact:Chantal Heckford Lansons Communications 24a St John StreetLondon
EC1M 4AY +44(0)20-7490-8828 http://www.experian.co.uk
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