Banque Raiffeisen taps Worldline for Instant Payments Solution

Banque Raiffeisen, Luxembourg’s only cooperative bank, has partnered with French paytech firm Worldline to implement a cloud-based instant payments processing system. This collaboration marks Banque Raiffeisen as Worldline’s first client in Luxembourg for its instant payments service, aligning with the EU’s Instant Payments Regulation.

The new system will enable Banque Raiffeisen to send and receive instant payments efficiently. Additionally, Worldline’s cloud infrastructure promises enhanced TIPS (TARGET Instant Payment Settlement) connectivity and streamlined onboarding processes for the bank.

Banque Raiffeisen will also utilise Worldline’s services for stand-in account checks and transaction sanction screening. This partnership builds on a longstanding relationship, with Worldline previously providing services like issuing processing, ATM acquiring, and SEPA credit transfer clearing and settlement.

Eric Peyer, an Executive Committee member at Banque Raiffeisen, emphasised the importance of this partnership, noting that Worldline has been a trusted partner for over 15 years. Peyer stated, “With instant payments, we intend to complete the range of payment services we offer to our clients and be prepared for future developments in peer-to-peer and point-of-sale payments.”

Worldline, founded in 1974, has had a notable year, including launching a new merchant payments joint venture, CAWL, with Crédit Agricole in April, and announcing a workforce reduction in February to achieve €200 million in cost savings.

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