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Numeral expands payment infrastructure with addition of Swift

By Gloria Methri

February 26, 2024

  • Cross Border Payments
  • Europe
  • FinTech
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Numeral, Swift Payments, FinTech, Payment Technology, Payment Processing, UK, EuropeNumeral, the payment technology provider, has announced support for Swift payments. This move enables Numeral customers to benefit from Swift’s global reach combined with the speed, lower cost, and high local reach of local payment schemes.

With Numeral’s addition of Swift, companies and financial institutions can automate cross-border payments with their partner banks to more than 200 countries and local European SEPA, U.K. Bacs, FPS and CHAPS payments — all from a single platform, according to the release.

“At Numeral, we enable any company processing large volumes of payments to build the perfect payment infrastructure for its specific needs on top of the partner banks of its choice. Enabling our customers to leverage the Swift payment capabilities of the banks connected to Numeral dramatically expands their payment reach while keeping the benefits of managing all their payments from a single platform,” said Édouard Mandon, co-founder and CEO at Numeral.

With Numeral, companies can programmatically manage payments through the banks and schemes that best fit their needs without building multiple integrations.

Numeral capabilities for Swift payments include:

  • Sending and receiving Swift payments through partner banks
  • Automatic reconciliation of Swift payments with corresponding bank account transactions
  • Programmatic access to currency account statements, including the latest available balances

“Numeral will pursue this more global, more local strategy in the future. We aim to support more European payment schemes and integrate with more European banks while adding more global payment options to our platform through global networks like Swift and global banks like J.P. Morgan, BNP Paribas and HSBC,” said Mandon.

Numeral is a payment technology provider that delivers the infrastructure for FinTechs and banks to connect to partner banks, access schemes, and automate payment operations.

Through its payments, reconciliations, treasury, and risk and fraud management capabilities, the company enables its customers to launch new products and expand geographically faster, reduce total cost of ownership and make their payments more resilient.

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