SH Payments joins the CENTROlink network giving clients access to the SEPA

By Joy Dumasia

SH Payments, a leading provider of tier one banking and payments services, has officially joined the CENTROlink payments system, allowing the company’s clients to have access to the Single Euro Payments Area (SEPA). 

CENTROlink, operated by the Bank of Lithuania, will allow SH Payments to clear SEPA payments for clients directly via the European Banking Authority (EBA) clearing without using a correspondent bank. The new system will enable SH Payments to diversify its product offering, allowing the company to offer an LT IBAN in addition to the current IBAN offering: LU, DE, DK & GB, to its clients. 

Additionally, SH Payments will have full control from a risk and compliance perspective over its transactions and cheaper pricing. The system also means that there will be no delays due to third party correspondents. 

SH Payments operates under the holding company Stanhope Financial Group, a global FinTech company that provides businesses with a full suite of banking services. SH Payments recently appointed ex-SEB chief Irmantas Kamienas as the company’s new CEO and ABN Amro bank’s Philippe Werner as Managing Director of Stanhope Financial Group. 

Irmantas Kamienas, CEO, SH Payments, commented: “Joining the CENTROlink network is a game-changer for our business, giving clients complete access to a diverse array of fast and effective payments options. At a time when so many businesses are seeking growth and international expansion following the pandemic, we are perfectly placed to support their entire payments process.”

SH Payments is part of the SH Financial group. SH Payments is a regulated EMI that supports businesses with payment services ranging from spot FX to international cross border payments, offering multi-currency bank accounts and supporting 20+ currencies.