Fidelity National Information Services (FIS), a financial services technology company, announced this Tuesday that it has facilitated the connection of Natixis Payments to the European TARGET Instant Payment Settlement (TIPS) scheme, an initiative of the European Central Bank (ECB).
TIPS enables the instant processing and settlements of payments in 34 countries within the Single Euro Payments Area (SEPA). The types of transactions that the scheme aims to process and settle in seconds range from person-to-person, person-to-business and business-to-business transactions.
Clients of Natixis Payments will have access to TIPS instant payments
Under the agreement with FIS, Natixis is the first French Bank to have access to the new messaging service, which is launching this week. As soon as TIPS is online, clients of Natixis Payments will have access to instant payments.
Commenting on the announcement, Jean-LucTheronnd, the head of Financial Institutions & Processing and Deputy CEO of Natixis Payments said: “Natixis Payments is committed to being a pure player at a European scale.
“Real-time payments are a major stake, we have been investing for years in infrastructure to make that happen and FIS has been a key partner every step of the way. Working together, we are leading the way to the future of payments.”
Natixis Payments, which is part of Groupe BPCE, has been an active participant in innovation that seeks to achieve faster payments. Earlier this year, the company worked with FIS to provide instant payments within its intra-group network. The bank also connected to the real-time payments clearing and payment system operated by STET, a European infrastructure provider.
“We commend Natixis Payments for its visionary leadership in bringing the benefits of real-time payments to its customers. We look forward to continuing to support Natixis as it further enhances its market-leading capabilities in this exciting and dynamic market area, ” added Raja Gopalakrishnan, the executive vice president, Global Financial Services Payments at FIS.