Payments processor SIA-SSB has developed a new technology
infrastructure which it says will help new players fully exploit
new opportunities in the payments market.

The platform, which it calls Payment Institutions EASY BOX, is
available in three different versions geared to different types of
business models:

  • The basic version is aimed at non-bank financial intermediaries
    who, during the initial phase will limit themselves to upgrading
    the system of notifications to supervisory authorities;
  • The advanced version is aimed at payment institutions who
    decide to manage also the payment accounts on which customers may
    carry out deposits and withdrawals;
  • Lastly the full version for payment institutions intends to
    offer some additional services such as collections, credit
    transfers, card issuing, etc, as well as the functions included in
    the advanced and basic versions.

Payment institutions may make use of a single
gateway to access networks and circuits at domestic and
cross-border level and of a series of further value-added services
such as connectivity, multi-channel access and real time monitoring
of transactions.

SIA-SSB has advised that the ‘Payment
Institutions EASY BOX’ solution complies fully with the security
and service continuity requirements set out by the regulatory
framework.

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By GlobalData