Direct access to TIPS with SwiftNet Instant will offer Natixis Payments customers the ability to execute instant payments anywhere within the Single European Payments Area
Natixis Payments has selected Swift to provide connectivity to TIPS for instant payments within the Single European Payments Area (SEPA).
“Natixis is a frontrunner on Instant Payments in France and it is our ambition to also be an instant payments leader across the SEPA area. So, to be one of the first banks ready to use TIPS was an obvious step for us. Direct access to TIPS with SwiftNet Instant makes the most sense for us because it enables us to leverage our current Swift Infrastructure, work with a trusted partner who knows our business, and offer our clients a better Instant Payments experience every day” says Jean-Luc Thérond, Deputy CEO, Head of Financial Institutions & Processing, Natixis Payments. A major player in processing for financial institutions, digital payments for consumers, and issuing and acceptance solutions for merchants, Natixis Payments brings together all of Groupe BPCE’s expertise in payments.
Direct access to TIPS with SwiftNet Instant makes the most sense for us because it enables us to leverage our current Swift Infrastructure, work with a trusted partner who knows our business, and offer our clients a better Instant Payments experience every day.
Launching in November 2018 to coincide with the launch of TARGET Instant Payment Settlement (TIPS), the euro real-time payments service commissioned by the Eurosystem, Swift’s new messaging service will allow instant payments to be made across Europe through both TIPS and EBA CLEARING’s RT1 instant payments system.
With a global reach connecting more than 11,000 banking and securities organisations, market infrastructures and corporate customers in over 200 countries and territories, Swift is well placed to deliver the infrastructure necessary to facilitate instant payments efficiently and with minimal integration.
Swift is supporting customers as they move to meet the Eurosystem’s 2020 vision, which envisages access to TARGET2, TARGET2 for Securities and TIPS through the Eurosystem Single Market Infrastructure Gateway (ESMIG). Swift’s solution is designed to provide customers with a single gateway to connect seamlessly to multiple instant payment systems in Europe and beyond.
The provision of an instant payments messaging service for the euro area is the latest step in Swift’s global instant payments strategy that leverages innovative technology to enable real-time payments to be made over the Swift network while also re-using existing infrastructure, ensuring a future-proof messaging solution that is easy to implement and maintain.
In February, Swift revolutionised Australian real time payments with the public launch of the country’s New Payments Platform (NPP). Swift has already provided US financial institutions with a gateway to The Clearing House’s real-time payments platform and is providing a similar solution to participants to Hong Kong’s Faster Payments System (FPS).
Join the instant payments discussion and find out more about how Swift can help you with instant payments at swift.com.