Worldline signs agreement with Banque Raiffeisen

Thursday 30 May 2024 07:59 CET | News

Global provider of payment services Worldline has signed an agreement with Banque Raiffeisen to allow the latter to leverage its cloud-based instant payments solution in Luxembourg. 

As per the information detailed in the press release, Worldline signed an agreement which makes Banque Raiffeisen one of the first clients of its cloud-based instant payments solution in Luxembourg. The two organisations already collaborate to also provide services such as clearing and settlement of SEPA credit transfers, issuing processing, and ATM acquiring.

Worldline has signed an agreement with Banque Raiffeisen to allow the latter to leverage its cloud-based instant payments solution in Luxembourg.

What does the new agreement entail?

The new agreement between Worldline and Banque Raiffeisen is set to allow the former to provide the bank with the capability to send and receive instant payments as mandated by the EU’s Instant Payments Regulation. By leveraging Worldline’s cloud infrastructure, Banque Raiffeisen can make its onboarding processes more efficient and convenient. Additionally, the bank is set to benefit from TIPS connectivity, as well as Worldline’s services for transaction sanctions screening and stand-in account verifications.

Apart from a range of services for compliance with the EU’s Payments Regulation, Worldline delivers its customers end-to-end solutions for instant payments, offering them improved capabilities via API connectivity and minimising integration complexity and difficulties. Worldline’s solutions also focus on enabling banks to be available for clients 24/7/365, which aims to encourage adoption by clients and customers and ultimately assist their regulatory compliance expansion strategy. According to Worldline’s officials, the current announcement marks the company’s first instant payments client in Luxembourg and by utilising its offering, Banque Raiffeisen can receive a comprehensive solution and an accelerated time to market that delivers added value. Worldline aims to continue its collaboration with Banque Raiffeisen and expand its capabilities.

Furthermore, representatives from Banque Raiffeisen highlighted that the decision to sign an agreement with Worldline was based on the company’s experience as a partner for the clearing and settlement of SEPA payments for nearly 15 years. The move is set to enable the bank to implement instant payments conveniently in line with the regulatory requirements and deadlines set by authorities. By introducing instant payments, Banque Raiffeisen aims to complete the range of payment services it offers to its clients, whilst being prepared for the upcoming developments in peer-to-peer and point-of-sale payments. Also, the bank expressed its commitment to following a human-centric approach by creating enduring relationships based on cooperative and sustainable values with its members, customers, partners, and employees.

About Worldline

Through its solutions, Worldline focuses on supporting businesses to accelerate their growth journey by leveraging its payment technology, local expertise, and solutions customised to different markets and industries. Currently, the company’s services are utilised by nearly one million businesses worldwide. Moreover, Worldline’s corporate objective is to develop and operate digital payment and transactional solutions that allow sustainable economic growth and solidify trust and security across societies.

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Keywords: partnership, SEPA, payment processing, instant payments, instant settlement, regulation
Categories: Banking & Fintech
Companies: Raiffeisen, Worldline
Countries: Luxembourg
This article is part of category

Banking & Fintech




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