Numeral partners with BPCE Payment Services

The first clients to benefit from this partnership between Numeral and BPCE Payment Services are corporate spend management platform Spendesk, Banking-as-a-Service platform Xpollens, and employee benefits platform Swile. The partnership allows regulated fintech companies to become SEPA participants and send, receive, and reconcile payments across all SEPA credit transfer, instant credit transfer, and direct debit payment schemes via a single API complemented by a modern dashboard. 

The primary benefits of becoming SEPA participants for payment and electronic money institutions include the ability to issue their own IBANs for their customers, gain more control over their payments, and optimise payment costs at scale. 

According to the company press release, before the partnership between these two entities, fintech companies only had one choice when it came to connecting with tier 1 banks, namely through complex connectivity channels or challenger banks offering fewer services than tier 1 banks, including incomplete coverage of SEPA payment schemes. Numeral and BPCE Payment Services joint customers will benefit from value-added services from both partners. 

Customers will also benefit from the BPCE Payment Services’ anti-fraud control, dispute management capabilities, and advanced reporting systems apart from its SEPA payments processing capabilities and access to SEPA clearing and settlement mechanisms. By linking to BPCE Payment Services through Numeral, clients will gain access to the company’s payment automation, as well as real-time access to payment statuses, accounts balances account transactions, and automated bank reconciliation capabilities. 

In essence, Numeral and BPCE Payment Services have a clear goal in mind, and that’s to democratise access to SEPA clearing and settlement mechanisms and to support the European fintech industry by giving businesses and consumers more transparency on the institutions holding their funds and processing their payments.

Other noteworthy Numeral partnerships 

In March 2023, Numeral announced its launch in the UK in a bid to strengthen its presence in the country and allow pan-European banking aggregation in order to improve the development process of local businesses and organisations throughout the market. The platform provides industries with multiple solutions that were designed to offer their clients an efficient suite of products focused on the security and privacy of their data and information.  

In May 2023,  Numeral partnered with BNPL provider Alma to automate payments to merchants in collaboration with bank BNP Paribas. The collaboration came at a time when merchants adopt new payment options for buyers who have increased expectations for more flexible payment options within their shopping experience.

Guillaume Desloges, co-founder, and COO at Alma said that the company has the goal of creating a fluid and simplified experience for merchants and customers alike.