Nationwide partners with ClearBank for real-time payments services


             Simon Hamilton

Nationwide Buiding Society has announced a partnership with ClearBank to enable access to real-time payments services for Nationwide.

Simon Hamilton, Managing Director of Nationwide for Business, said: “Our partnership with ClearBank will ensure our new proposition benefits from a state-of-the-art payments platform that is ready for the increasing demand for electronic payments. ClearBank is the first new clearing bank in 250 years and purpose-built to avoid the constraints of legacy systems.”

According to ClearBank, the partnership will propel the Society’s business current account proposition that is set to be launched in the next year. It is expected to provide its payments platform to Nationwide, thereby preparing the Society for the increasing demand for electronic payments. This partnership is expected to facilitate better access to real-time payments services including faster payments.

Charles McManus, CEO of ClearBank said: “As one of the most well-regarded financial services brands in the market, we are incredibly proud to partner with Nationwide on this initiative. We look forward to working together to enable Nationwide for Business customers to benefit from ClearBank’s state-of-the-art, cloud-based payments platform – providing this historically underserved market with a greater choice of banking services.”

Recently, Mastercard partnered with Nationwide as it prepares to launch a new business banking service targeting Britain’s 5.6 million small businesses.

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