Volante Technologies, SIA partner on instant payments in Europe

By Robin Amlot

Volante Technologies and SIA, a 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. The agreement will allow Europe’s banking and financial communities to directly access EBA Clearing’s real time payment system RT1 and ECB’s TARGET Instant Payments Settlement service (TIPS) via Volante’s SEPA Instant Payments as a Service and SIAnet’s network infrastructure

The partnership will allow payments to be sent and received in less than 10 seconds for a maximum amount currently set at EUR 100,000 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 improved resiliency and network infrastructure performance. The service may also be extended 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,” said Cristina Astore, SIA’s Northwest Europe and DACH Region Sales Director.