Volt launches end-to-end cash management

Thursday 29 April 2021 12:31 CET | News

Open payments gateway Volt has launched new cash management functionality, according to Financial IT

The new functionality is providing merchants and payment service providers (PSPs) with complete visibility of Open Banking payments made through the UK's Faster Payments Service and the European SEPA Credit Transfer and SEPA Instant Credit Transfer schemes. Available in the UK now and across Europe by the end of May 2021, Volt Connect puts merchants in greater control of their cash by enabling them to track multi-currency PSD2 payments from the point of initiation to the moment of arrival in their accounts. Automatic reconciliation and reporting provide recipients with instant notification of settlement, allowing them to credit the correct customer account faster.

Volt Connect adds to the market-leading functionality available in Volt's open payments gateway, which provides connectivity to Open Banking by standardising the PSD2 payment initiation API to a single point of access. Volt offers multiple paths for payments between accounts at more than 4,500 banks in the UK and Europe, removing single point of failure and improving conversion by optimising payment routing with machine learning.

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Keywords: Volt, Open Banking, account-to-account payment, SEPA, PSD2
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech