Latest news with #SEPAInstantCreditTransfers
Yahoo
03-07-2025
- Business
- Yahoo
Orbital partners with ClearBank to enhance euro transactions
Cross-border platform Orbital has partnered with ClearBank Europe, a provider of real-time clearing and embedded banking services. The alliance will provide Orbital's enterprise clients with euro transaction capabilities. The collaboration grants Orbital direct access to ClearBank Europe's real-time euro clearing facilities, IBANs, SEPA infrastructure, which accompanied by AML and KYC checks. Orbital group CEO Chris Mason said: "We selected ClearBank Europe because of its real-time clearing capabilities, market-leading API, and banking-grade compliance standards. It is simply the best embedded banking provider in Europe and has a strong track record working with digital asset platforms." By leveraging SEPA Instant Credit Transfers, businesses can anticipate reductions in the fees and foreign exchange charges commonly associated with international euro transactions. The Orbital group also provides a suite of treasury solutions, including stablecoins, FX, and local payout options, all accessible through their unified platform. The addition of real-time wallet-based tracking and counterparty identification aims to mitigate risk and uphold compliance standards, particularly for businesses operating across multiple jurisdictions and dealing with high volumes of transactions. ClearBank Europe COO Ezequiel Canestrari stated: "This collaboration marks a significant milestone for Orbital, providing direct access to real-time euro clearing, named IBANs, and SEPA infrastructure and we are pleased to be supporting this delivery to their customers.' In October last year, ClearBank onboarded its inaugural European clients, including OpenPayd, Pay Perform (trading as Orbital), and Transact Payments, to the Eurosystem's T2 payment rail. "Orbital partners with ClearBank to enhance euro transactions " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
30-06-2025
- Business
- Finextra
Strategic agreement between EPI and EuroPA: building a unified European digital payments network: By Roberto Garavaglia
On June 23, 2025, the 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲 (𝗘𝗣𝗜) and 𝗘𝘂𝗿𝗼𝗣𝗔 announced a major collaboration aimed at creating an interoperable, sovereign European ecosystem for digital payments—offering a credible alternative to international card schemes. WHO ARE THE KEY PLAYERS? EuroPA is an alliance of national digital payment champions – 𝗕𝗮𝗻𝗰𝗼𝗺𝗮𝘁(Italy), 𝗕𝗶𝘇𝘂𝗺 (Spain), 𝗠𝗕 𝗪𝗔𝗬 (Portugal), 𝗕𝗹𝗶𝗸 (Poland), 𝗜𝗥𝗜𝗦 (Greece), and 𝗩𝗶𝗽𝗽𝘀 𝗠𝗼𝗯𝗶𝗹𝗲𝗣𝗮𝘆 (Nordics). These solutions are already widely adopted and focus on enabling technical interoperability between existing mobile wallets, offering fast and integrated payment experiences within their local banking ecosystems. EPI has launched Wero, a pan-European digital wallet based on SEPA Instant Credit Transfers (SCT Inst) and Payment Initiation Services (PIS) under PSD2. Wero enables instant, account-to-account (A2A) payments without relying on traditional card networks. WHAT ARE THE DIFFERENCES? EuroPA solutions are rooted in domestic infrastructures, with varying technological approaches. Wero, in contrast, offers a unified architecture, designed for full interoperability and scale across Europe. What they share is the 𝗰𝗲𝗻𝘁𝗿𝗮𝗹 𝗿𝗼𝗹𝗲 𝗼𝗳 𝗯𝗮𝗻𝗸𝘀, who manage accounts and ensure service delivery. WHY DOES THIS MATTER? The agreement lays the groundwork for true operational convergence between well-established solutions and a next-generation infrastructure. It accelerates the adoption of A2A payments across all transaction types: P2P, B2C, C2B, B2B WHAT ABOUT THE DIGITAL EURO? The digital euro, a retail CBDC under development by the ECB, shares key goals: instant payments, interoperability, and reduced dependency on non-European networks. But there are fundamental differences: 📌 In the EPI-EuroPA model, payments are executed in commercial bank money, with banks playing a central role. 📌 In the digital euro model, payments would be made in central bank money, with banks having a less central role in the transaction flow. THE FUTURE OF EUROPEAN PAYMENTS DEPENDS ON A SYNERGY BETWEEN COMPLEMENTARY MODELS ... ➡️ Commercial banks + infrastructure innovation (EPI-EuroPA) ➡️ Central bank money + digital inclusion (digital euro) 🔗 EPI Company Press Release: 🔗 Finextra:
