Volante launches SEPA instant payments as a service on Microsoft Azure for RT1 and TIPS using SIAnet as connectivity solution. The Volante ecosystem of business services for the payments lifecycle is powered by VolPay.
The service allows any market participant to send and receive instant payments through the two principal pan-European schemes, EBA CLEARING’s RT1 and ECB’s TIPS.
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As a result, this avoids costly and time-consuming in-house deployment of RTP infrastructure projects.
According to Volante this means that institutions can instead focus on accelerating the delivery of new services to their end-customers. And it aims to speed onboarding across a variety of retail and commercial use cases.
In addition, institutions can easily support both today’s SEPA instant payments networks and future ones, without onerous rework.
“Managed service approaches are an ideal fit for instant payments,” says David Bannister, senior analyst at Aite Group.
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By GlobalData“They allow providers to go live with very low volumes while they fine tune their business cases. At the same time, they preserve their ability to keep up with market demand as volumes rise.
“Because instant payments are new, no migration from existing systems is required. This significantly reduces implementation times.
SEPA instant payments-demand on the rise
Domenico Scaffidi, director, business development, Volante adds that demand for SEPA instant payments from European institutions is on the rise.
“We are excited to be expanding our payment processing managed service with SEPA instant payments capabilities to meet this demand. And to be certified by SIAnet as a multi-network solution delivering more choice for our customers.”
Janet Lewis, VP Worldwide Financial Services, Microsoft adds: “Volante’s cloud-based payments services provide significant benefits to clients.
“We are delighted they have chosen Microsoft Azure to host their SEPA instant payments as a service.”
