The new Instant Credit Transfer Scheme will enable businesses and consumers to make real-time credit transfers between accounts in European countries. As a Front Runner Provider, Bottomline’s European banking clients will be amongst the first in line to benefit from the scheme when it goes live in November 2017.
The payment gateway to the scheme will be incorporated into Bottomline Technology’s Universal Aggregator service, including the Faster Payment Service. It offers banks, corporates, governments, and non-financial banking institutions a way to access a range of payment clearing and settlement systems around the world, without the need for individual systems and relationships.
More than that, as Bottomline’s aggregator service is scalable, full access to the Instant Credit scheme will be available to organizations of all sizes, from small and challenger banks, to large global banking institutions.
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