Volante Technologies And SIA Partner To Boost Instant Payments In Europe
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The agreement will allow the banking and financial communities to directly access EBA Clearing's RT1 and ECB's TIPS via Volante's SEPA Instant Payments as a Service and SIAnet's network infrastructure
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LONDON and MILAN, Italy, June 15, 2021 /PRNewswire/ -- Volante Technologies, the global leader in cloud payments and financial messaging, and SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, have signed a partnership agreement to enable banks, financial institutions and payment service providers to access instant payments, speeding up the adoption of digital payments in Europe.
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 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).
The partnership will allow the banking and financial communities 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, in line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).
Adopters of the Volante and SIAnet solution will benefit from cloud payments processing as a service and outstanding 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.
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. As we are already certified with SIAnet, banks can very quickly offer instant payments to their customers, and benefit from reduced project resource and implementation costs. The partnership will also enable joint customers to extend the service to other payment types beyond SEPA Instant Payments."
"The partnership with Volante Technologies is an important step in implementing SIA's strategy to develop instant payments for banks and financial institutions in Europe and we are fully committed to supporting the success of this initiative. 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," stated Cristina Astore, SIA's Northwest Europe and DACH Region Sales Director.
To learn more about the partnership, visit our SIA partner page.
Volante Technologies is the leading global provider of cloud payments and financial messaging solutions to accelerate digital transformation. We serve as a trusted partner to over 100 banks, financial institutions, market infrastructures, clearing houses, and corporate treasuries in 35 countries. Our solutions and services process millions of transactions and trillions in value every day, powering four of the top five corporate banks, 40 percent of all U.S. commercial bank deposits, and 70 percent of worldwide card traffic. As a result, our customers can stay ahead of emerging trends, become more competitive, deliver superior client experiences, and grow their businesses through rapid innovation.
To learn more, visit www.volantetech.com
SIA - a subsidiary of CDP Equity - is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and the Public Sector, in the areas of Card & Merchant Solutions, Digital Payment Solutions and Capital Market & Network Solutions. SIA Group provides its services in over 50 countries, and also operates through its subsidiaries and branches in Austria, Belgium, Croatia, Czech Republic, Germany, Greece, Hungary, the Netherlands, Romania, Serbia, Slovakia, and South Africa. The company also has representation offices in the UK and Poland.
For more information: www.sia.eu/en
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SOURCE Volante Technologies, Inc.
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