equensWorldline supports European Central Bank instant settlement initiative

equensWorldline will connect its European and national instant payments clearing and settlement services to TIPS from the first day TIPS is operational, thus providing pan-European reach to its connected banks and PSPs through one technical interface.

The equensWorldline connection to TIPS will be complementary to the interoperability connections with the other CSMs in Europe. The equensWorldline instant payments clearing and settlement service is currently developing, such as EBA clearing and EACHA.

Instant payments allow transactions to be processed instantly and around the clock, 365 days per year. Consumers can share a restaurant bill and top up their prepaid mobile phone balance instantly, in the evening, in the weekend and on public holidays. Corporates can pay bills instantly, optimizing their cash flow, and incoming payments are immediately credited onto their accounts.

Instant settlement by the European Central Bank will be compliant with the European Payments Councils Instant Payments initiative, SCT Inst and will offer banks and payment service providers (PSPs) the ability to settle instantly at the European Central Bank.

equensWorldline is a payment services provider in Europe and contributes to the shaping of the instant payments landscape. equensWorldline is one of the initiators of EACHA, the European Association of Clearing Houses, who drafted the EACHA Instant Payments Interoperability Framework. In addition, equensWorldline participates in various task forces (ECB, EPC, EACHA, IPFA) for risk management, clearing & settlement and interoperability of instant payments in Europe.