Worldline, a global payment services provider, has entered an agreement with Banque Raiffeisen to leverage its cloud-based instant payments solution in Luxembourg. This makes Banque Raiffeisen one of the first clients of Worldline’s solution in the region.
Details of the Agreement
- Instant Payments: The agreement enables Banque Raiffeisen to send and receive instant payments as required by the EU’s Instant Payments Regulation.
- Services: Worldline will provide TIPS connectivity, transaction sanctions screening, and stand-in account verifications.
- Enhanced Capabilities: Worldline offers end-to-end solutions for instant payments, improving API connectivity and minimizing integration complexities, ensuring banks can serve clients 24/7/365.
We have signed this agreement with Worldline, a valued partner for the clearing and settlement of Sepa payments for over 15 years, because we are confident that this allows us to smoothly implement instant payments in line with the regulatory requirements and deadlines. With instant payments we intend to complete the range of payment services we offer to our clients and be prepared for the future developments in peer-to-peer and point-of-sale payments.
Eric Peyer, exco member at Banque Raiffeisen This initiative aligns with the European Council’s regulatory requirements, which aim to ensure credit transfers are processed within 10 seconds, thereby promoting instant credit transfers and reducing the risk of fraud. This regulatory push underscores the importance of adopting advanced payment technologies to meet evolving customer expectations and regulatory standards.
This announcement represents our first cloud-based instant payments client in Luxembourg. Through our offering, Banque Raiffeisen will benefit from a comprehensive instant payments solution and a fast time to market that provides added value.
Sheri Brandon, CMO of financial services at Worldline 
