Equens support banks along the payments value chain, from initiating the payment to the banks’ internal payment processing up to the interbank clearing and settlement process. The delivery to the market of the first components is scheduled for Q2, 2016. The instant payment solution will not only deliver an interbank automated clearing and settlement solution, it will also be equipped to take on payment processing within a bank. This way Equens can reduce the efforts required by banks to implement their real-time processing capabilities.
The new service is complemented by a white-label mobile app, which allows for P2P payments to be made to mobile phone numbers using an alias conversion service. These capabilities clearly differentiate Equens’ instant payment solution from other market solutions, which offer a more limited scope.
Equens processes 10 billion SEPA payments per year and has an estimated card processing with an annual volume of 5 billion transactions. The instant payment solution will be compliant with the upcoming SCTinst scheme as defined by the European Payments Council and will be open to any PSP or PSP community all over Europe.
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 instant payment solution will be developed based on a roadmap. The delivery to the market of the first components is scheduled for Q2, 2016.
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