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
Brussels, 6 September 2018 – SWIFT announced today that 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.
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.
Alain Raes, Chief Executive of Europe, Middle East & Africa, SWIFT, said: “We are delighted that Natixis Payments has chosen SWIFT to connect to TIPS. Our solution is designed to meet the current and future messaging needs of our customers and we look forward to working with them as they embark on the path towards ESMIG.”
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.
SWIFT is a global member owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance. Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. While SWIFT does not hold funds or manage accounts on behalf of customers, we enable our global community of users to communicate securely, exchanging standardised financial messages in a reliable way, thereby supporting global and local financial flows, as well as trade and commerce all around the world. As their trusted provider, we relentlessly pursue operational excellence; we support our community in addressing cyber threats; and we continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Our products and services support our community’s access and integration, business intelligence, reference data and financial crime compliance needs. SWIFT also brings the financial community together – at global, regional and local levels – to shape market practice, define standards and debate issues of mutual interest or concern. Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.