Pedro Cobo

Iberpay

Iberpay is the Spanish Payment Service Company. Its main purpose is to manage the Spanish interbank payments infrastructure (SNCE) which is specialised in the exchange, clearing and settlement of transactions between financial institutions. It is also entrusted with the management of the Spanish Cash Logistics System (SDA) implemented by the Bank of Spain, and provides other added value services in terms of payments. Iberpay plays a critical role in a developed and complex society by contributing, through its payment mechanisms and infrastructures, to the agile flow of funds, goods and services among citizens and businesses, committing to the progress of the country as a whole. Its purposes are those of an Interbank Clearing House and of a payment system provider for domestic and foreign entities. Iberpay bases its activity on specialisation, experience and the ability to develop its products under the general agreement of the Spanish financial community, the majority of which participates in the services the company provides (more than 160 entities). Iberpay is a highly technological company managing state-of-the art, highly efficient and competitive systems, such as its platform CICLOM which ensures high capacity and the capability of handling millions of daily transactions of the instruments processed, these being, in the main, credit transfers, direct debits, cheques and bills of exchange. Iberpay was created from the start with a clear international vocation, being mainly responsible for the Spanish implementation of SEPA, and supports its cross-border activity by interoperability agreements with its European counterparts. These agreements provide a network and schemes that grant reachability to almost all European banks. Iberpay also develops an intense strategic and tactical activity in many Latin American countries.