SIA, one of the top European companies in both payments and infrastructures, controlled by CDP Equity, and Volante Technologies, a leader in cloud payments and financial messaging, have signed a partnership agreement to enable banks, financial institutions, and payment services to access instant payments.
In line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC), the partnership will enable banks and financial institutions to settle credit transfers in less than 10 seconds for up to 100,000 euros per transaction, 24 hours a day, 365 days a year.
Together, Volante’s cloud-native SEPA Instant Payments as a Service and SIAnet will let European banks and financial institutions access RT1 through EBA Clearing and TARGET Instant Payments Settlement (TIPS) via the Eurosystem’s TIPS service.
As a cloud payment processing service, Volante and SIAnet will provide excellent reliability and high performance in terms of infrastructure complexity and resiliency. SEPA Credit Transfer and SEPA Direct Debit are two additional payment types and schemes that can be added to the service.