GIRO has delivered over one million successful transactions following the launch of its new instant payments platform in Hungary.

The platform RealTime24/7, powered by Nets, launched on March 2, processing over one million transactions in its first three days.

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Paul Walvik-Joynt, SVP in Payments International at Nets, said: “We are happy to see our technology perform so well in a launch where speed, stability and reliability were key to meet the expected high volumes from the second it went commercially live. It is great to see the close collaboration we have had with GIRO now materialise.”

According to GIRO, the platform can manage 5,600 transactions per second. In addition, GIRO has collaborated with the Hungarian banking community to undergo testing – completing over 120m testing transactions.

The company also answered over 3,000 questions to ensure the solution would be beneficial to the whole society.

Dr Selmeczi-Kovács Zsolt, CEO of GIRO, said: “Launching real-time payments in Hungary not only marks an important step for GIRO, but for the whole Hungarian financial market. We have been working closely with Nets throughout the implementation process and been reassured of the product and partnership value we were looking for when completing the tender and vendor selection process.

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“We now look forward to developing the capabilities of the payments system further and facilitating new and innovative products in cooperation with Nets.”

The commercial launch of the RealTime24/7 platform in Hungary is a software delivery. It is also available as a managed service.

Currently, the deployments in production in Denmark, Italy, Slovenia, and Norway are run as managed services. Furthermore, several of the RealTime24/7 deployments include overlay services.

Earlier this month, Nets purchased polish payments firm PeP to expand its reach in Poland. The deal offers PeP €405m ($454m) valuation.