Equens is expanding its product portfolio to include an end-to-end pan-European instant payment service. The Netherlands-based payment services provider expects to deliver to the market the first components of the new solution in the second quarter of 2016.
The service will be complemented by a white-label mobile app, which allows for per-to-peer (P2P) payments to be made to mobile phone numbers using an alias conversion service.
“By expanding our portfolio with this complete instant payment service, we demonstrate our continued focus to cater for the full spectrum of our clients’ current and future needs,” said Alessandro Baroni, chief marketing officer (CMO) for Equens.
“This seamlessly fits our European strategy, aimed at supporting our clients in the challenges they are facing in the rapidly developing European payments market, in which reliability, continuity and the capability to innovate are of the essence.”
The group added that its end-to-end service is able to support banks along the full payments value chain, from initiating the payment to the banks’ internal payment processing up to the interbank clearing and settlement process.
“Furthermore, as a member of the European Automated clearing House Association (EACHA), Equens is actively working with other prominent ACHs across Europe on securing interoperability between the different European processors, so as to allow for the greatest reach and true pan-European instant payment services,” the group added.
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A relatively small population and take-up of the latest technologies makes the country a testbed for payment innovation, according to an ANZ Group report.
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“Corporate treasurers around the world are getting a better cross-border payments experience today,” announced the financial messaging services provider.