A total of seven banks in the Netherlands have tapped Worldline unit equensWorldline to offer instant payments.

The seven banks are ABN AMRO, ING, Rabobank, SNS, ASN Bank, RegioBank and Knab.

The internet and mobile banking customers of these banks can now avail instant payments.

TO meet their goals of instant payments, the banks will utilise equensWorldline’s CSM (Clearing and Settlement Mechanism) system.

equensWorldline CEO Michael Steinbach said: “Through instant payments, transactions are processed immediately. Besides that, real-time payments are continuously available, even on weekends and public holidays.

“That’s why we are convinced that instant payments will become the new normal.

“The Dutch banks are among the first to realise it, but in due time many countries in the Eurozone – and beyond – will follow.”

Currently, equensWorldline is said to be the largest instant payments processor in the Eurozone, by virtue of the Dutch launch.

The firm is presently said to manage millions of instant payment transactions on a weekly basis.

In November 2018, equensWorldline rolled out its TIPS Gateway service.

The service supports instant payments through a single interface.

According to Worldline, various tier 1, tier 2 and tier 3 banks across the globe are expected to go live with this service soon.

Earlier this year, equensWorldline launched a new service to enable interoperability of mobile P2P payments across Europe.