DFM, a Dutch financing services provider for enterprises in the mobility space, has selected Worldline to handle its instant payments, clearing and settlement services.
As part of the agreement, Worldline has already completed implementing its instant payments and back-office processing solutions for the Dutch firm through its payment licence partner Volkswagen Bank.
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The partnership is valid for a period of five years.
Worldline’s Instant Payments service comes under the portfolio of its modular back-office processing products.
The portfolio is also capable of handling other modes of payments including Single Euro Payments Area (SEPA), high-value and multi-currency transactions.
It complies with European Payments Council (EPC) and Payment Services Directive 2 (PSD2) requirements. Both large and small banks can implement the portfolio, which can be incorporated within a period of nine months.
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By GlobalDataWorldline’s back-office services is designed to help companies with new operating models to manage their payments processing activities.
By outsourcing those services, companies can reduce expenses, complexity, and use resources in a better way, stated Worldline. The services also help speed up digitalisation of firms.
Worldline Global Financial Services deputy head Alessandro Baroni said: “This partnership with DFM highlights the benefits of outsourcing back-office services to Worldline.
“Following the closing of this five-year contract, we have successfully implemented the complete Instant Payments back-office and a connection to the Clearing & Settlement mechanism within nine months. This demonstrates our capability to act as an agile business partner.”
In July this year, Worldline announced an alliance with Weixin, a China-based social platform.
