All banks in Aruba now offer Instant Payments through IP-infrastructure of the Central Bank of Aruba

Friday 6 March 2020 12:31 CET | News

Aruba’s entire banking community has switched to Instant Payments (IP) using the Clearing and Settlement Mechanism (IP CSM) of the Centrale Bank van Aruba (CBA), which was implemented by equensWorldline.

The implementation of this new payment infrastructure – which is led by the CBA – is unique because the Caribbean island switched completely from traditional batch payments to instant payments. After this switch, all interbank payments in Aruban florin initiated in Aruba can be instantly processed 24/7/365. The IP CSM is fully compliant with international standards and ISO20022.

equensWorldline is the pan-European provider of payments and transactional services. Being part of the Worldline Group, equensWorldline combines expertise in traditional mass payment systems (issuing, acquiring, intra- and interbank payment processing) and ecommerce and mobile payment solutions.

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Keywords: banks, Aruba, instant payments, Central Bank of Aruba, equensWorldline, payments
Categories: Payments & Commerce
Countries: Aruba
This article is part of category

Payments & Commerce