equensWorldline rolls out pan-European interoperability solution to secure P2P payments

Tuesday 5 March 2019 10:34 CET | News

equensWorldline, a subsidiary of Worldline, has successfully launched the SEPA Proxy Lookup (SPL) service.

This new service creates secure interoperability between existing mobile person-to-person (P2P) payment services, according to the official press release. The SPL service is ready to be used, and the first provider has already integrated the service into its mobile payment solution.

The SPL service is based on the SPL scheme managed by the European Payments Council (EPC). equensWorldline was selected as the preferred SPL service provider by the Mobile Proxy Forum, a working group initiated at the request of the Euro Retail Payments Board (ERPB), to achieve pan-European interoperability for P2P mobile solutions.

The new equensWorldline SPL service replaces the need for manual exchange of payment information. It connects the lookup services available in different markets to facilitate the use of the beneficiarys mobile phone number in order to retrieve the correct IBAN. The SPL service is an intelligent routing network among connected P2P payment providers and forgoes the creation of an additional central IBAN database.

As a result the risk of end users entering incorrect IBANs is eliminated. In addition, the service has been designed to allow future extensions, like the support of additional aliases such as e-mail addresses, the support of merchant payments (B2C), and the introduction of value-added services such as the transfer of e-receipts in the case of consumer purchases.

For more information about Worldline, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: equensWorldline, Worldline, PSP, online payments, secure payments, mobile payments, SEPA Proxy Lookup, product launch, P2P payments, Europe, IBAN
Countries: World