Worldline And Banque Raiffeisen Bring Cloud-Based Instant Payments To Luxembourg

Banque Raiffeisen is the first Luxembourg bank with instant cloud-based payments (© Banque Raiffeisen).

Worldline has signed a contract with Banque Raiffeisen, making them Worldline’s first Luxembourg client for its cloud-based instant payments solution.

This strategic move marks a major collaboration as Banque Raiffeisen becomes Worldline’s (Euronext: WLN) first client in the region for this service. By leveraging Worldline’s advanced cloud infrastructure, the partnership aims to enhance financial transactions, ensuring faster, more efficient payment processes compliant with EU regulations.

“Through our offering, Banque Raiffeisen will benefit from a comprehensive instant payments solution and a fast time to market that provides added value. We look forward to working more closely with Banque Raiffeisen in new and exciting ways,” says Sheri Brandon, chief marketing officer, financial services at Worldline.

Partnership details

This initiative displays Worldline’s commitment to advancing digital payment solutions and Banque Raiffeisen’s dedication to offering financial services to its clients. The adoption of instant payments is set to enhance the speed and efficiency of transactions, benefiting both consumers and businesses. By integrating Worldline’s comprehensive instant payments solution, Banque Raiffeisen is set to meet future demands for peer-to-peer and point-of-sale payments. 

” We [Banque Raiffeisen] are confident that this allows us to smoothly implement instant payments in line with the regulatory requirements and deadlines.”

Eric Peyer, executive committee member at Banque Raiffeisen

This collaboration highlights the ongoing evolution of the financial sector in Luxembourg, given that demand for these services has increased in recent years, and will continue to do so as the market evolves.

Worldline already collaborates with Banque Raiffeisen, providing essential services such as the clearing and settlement of SEPA credit transfers, issuing processing, and ATM acquiring. With this new agreement, Worldline will enable Banque Raiffeisen to send and receive instant payments, aligning with the EU’s instant payments regulation. The implementation leverages Worldline’s advanced cloud infrastructure, facilitating smarter and quicker onboarding processes for the bank.

Benefits to Banque Raiffeisen

Banque Raiffeisen will benefit from TIPS connectivity and Worldline’s value-added services, including transaction sanction screening and stand-in account checks. These enhancements not only ensure compliance with EU regulations but also provide comprehensive end-to-end solutions for instant payments. Worldline’s cloud-based instant payments solution, with its API connectivity, reduces integration complexity and supports a 24-hour-per-day availability, promoting rapid adoption by clients and customers.

Eric Peyer, executive committee member at Banque Raiffeisen, expressed confidence in the partnership: “We have signed this agreement with Worldline, a valued partner for the clearing and settlement of SEPA payments for over 15 years, because we are confident that this allows us to smoothly implement instant payments in line with the regulatory requirements and deadlines. With instant payments we intend to complete the range of payment services we offer to our clients and be prepared for the future developments in peer-to-peer and point-of-sale payments.”

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