Worldline [Euronext: WLN], a global leader in payment services, has signed a contract with Banque Raiffeisen, making them Worldline’s first client on its cloud-based instant payments solution in Luxembourg.
Worldline already works closely with Banque Raiffeisen, providing services including Clearing and Settlement of SEPA Credit Transfers, Issuing Processing and ATM Acquiring.
With this new agreement, Worldline will provide the bank with the means to send and receive instant payments as mandated by the EU’s Instant Payments Regulation. Using Worldline’s modern cloud infrastructure, Banque Raiffeisen will benefit from smarter and quicker onboarding processes. The bank will also benefit from TIPS connectivity and Worldline’s value-added services for transaction sanction screening and stand-in account checks.
Beyond the full range of services for compliance with the EU’s Instant Payments Regulation, Worldline provides its customers with comprehensive end-to-end solutions for instant payments. Worldline’s cloud-based instant payments solution provides enhanced capabilities through API connectivity, reducing integration complexity. It also empowers banks to be available for clients 24/7/365, encouraging swifter adoption by clients and customers, ultimately supporting their regulatory compliance and their growth journey.
Sheri Brandon, CMO Financial Services at Worldline says: “The announcement of this further agreement between Worldline and Banque Raiffeisen is significant, as it represents our first cloud-based instant payments client in Luxembourg. Through our offering, Banque Raiffeisen will benefit from a comprehensive instant payments solution and a fast time to market that provides added value. We look forward to working more closely with Banque Raiffeisen in new and exciting ways.”
Eric Peyer, ExCo Member at Banque Raiffeisen says: “We have signed this agreement with Worldline, a valued partner for the clearing and settlement of SEPA payments for over 15 years, because we are confident that this allows us to smoothly implement instant payments in line with the regulatory requirements and deadlines. With instant payments we intend to complete the range of payment services we offer to our clients and be prepared for the future developments in peer-to-peer and point-of-sale payments.”