Volante Technologies and SIA have signed a partnership agreement to enable banks, financial institutions, and payment service providers to access instant payments.
Volante Technologies is a cloud payments and financial messaging provider. SIA is a European hi-tech company in payment services and infrastructures, controlled by CDP Equity.
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The combination of Volante’s cloud-native SEPA Instant Payments as a Service with the high-speed, secure and low-latency network infrastructure SIAnet will help to speed up the adoption of digital payments in Europe.
It will allow European banks and financial institutions to directly access the EBA Clearing’s pan-European real-time payment system RT1 and the TARGET Instant Payments Settlement (TIPS) service of the Eurosystem (the ECB and national central banks in the Eurozone).
Sending and receiving payments in less than 10 seconds
The partnership will allow the financial firms to send and receive payments in less than 10 seconds for a maximum amount currently set at 100,000 euros per individual transaction, 24 hours a day, 365 days a year.
This is in line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).
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By GlobalDataAdopters of the Volante and SIAnet solution will benefit from cloud payments processing as a service and resiliency and network infrastructure performance.
The service is also extensible with a wide range of available additional payment types and schemes, including SEPA Credit Transfer and SEPA Direct Debit.
Connecting to pan-European payment systems and platforms
Domenico Scaffidi, Vice President, Global Industry & Regulatory Affairs, Volante Technologies said:
“The number of payment schemes across Europe continues to climb. Our combined proposition dramatically speeds up the process of connecting to these pan-European payment systems and platforms.”
Cristina Astore, SIA’s orthwest Europe and DACH Region Sales Director, said:
“As part of the SIA Partnership Program, we will enable Volante Technologies’ customers to directly access the pan-European payments platforms by leveraging the integration between a leading network infrastructure and a cloud-based innovative solution.”
