SIA Enables Instant Payments for Banca Popolare Di Sondrio
Banca Popolare di Sondrio has launched its instant payments service aimed at its customers, private and business, thanks to SIA’s ‘EasyWay’ digital platform directly connected to EBA Clearing’s pan-European system for instant payments, RT1.
The functionality allows the entire clientele of the banking group to make instant payments in less than 10 seconds for a maximum amount currently set at €15,000. The service, active 24 hours a day, 365 days a year, is aligned with the SEPA Instant Credit Transfer scheme (payment with immediate and irrevocable credit) of the European Payments Council (EPC).
SIA’s digital platform operates as a hub, simplifying the integration of instant payments with the internal systems of financial institutions, reducing costs and activation times. This is made possible through an integrated service between Banca Popolare di Sondrio and SIA which covers the entire value chain of the payment: from the order via all the channels used by banks and payment service providers – for example mobile and internet – to the handling and processing of transactions, right up to network connections to access EBA Clearing’s RT1 infrastructure, the Eurosystem TIPS platform (the launch of which is expected by the end of 2018) and the various European Automated Clearing Houses (ACH).