Icon Solutions Partners with T‑Systems Hungary for Icon’s Instant Payments Framework

Icon Solutions Partners with T‑Systems Hungary for Icon’s Instant Payments Framework
14.06.2017 07:00 am

Icon Solutions Partners with T‑Systems Hungary for Icon’s Instant Payments Framework

Payments

Icon Solutions, a leading provider of technology and instant payments solutions has just announced its expansion into the Hungarian market by partnering with T-Systems Hungary to provide customers with easier, quicker and more manageable access to immediate payments via Icon’s Instant Payments Framework (IPF). 

The strategic partnership comes as Icon moves to consolidate its position at the forefront of instant payment solutions. Current clients of T-Systems will benefit from Icon’s ongoing investment into IPF product development that will enable banks to continually realise financial savings and improve performance.

From 2019, customers of banks in Hungary will be able to make instant credit transfers of up to HUF 10 million (circ.€32,500) and beneficiaries will be able to access these funds within 5 seconds from transfer. This is a major shift from the payment methods that are the norm in Hungary today. IPF is an agile software product that will expedite Hungarian financial institutions’ participation in instant payments.   

IPF provides the speed of execution customers demand today to rapidly integrate with FinTech partners. Through its highly scalable, reusable Open API processing layer that supports digital services, IPF futureproofs banks from the demands of tomorrow. 

Tom Kelleher, Commercial Director at Icon Solutions said:

This is a significant partnership for Icon, and Hungary is an integral part of our growth strategy in Europe. T-Systems have a wealth of experience and trusted relationships in the Hungarian banking community. This partnership validates our shared vision to deliver cutting-edge instant payment solutions and improve the customer experience via our joint extensive technology capabilities and market-leading insights from our team of payment experts.

Balázs Rakovszky, Director of Financial Institutions Business unit at T-Systems Hungary said:

T-Systems only works with companies that implement the best practices and are leaders in their field. We are confident that our partnership with Icon will add value to our instant payments service offering and benefit our clients. 

The strategic goal of T-Systems is to serve its clients on the highest possible level either through in-house developed products or with partners that can not only bring cutting edge technology, but a deep subject matter expertise to the table. Although T-Systems has a long-standing experience in the payments area, our partnership with Icon is a major step forward to even better serve our clients. 

Related News

Mastercard enables Contactless limit raise across 29 countries; and champions permanent increase

Today Mastercard announced its commitment to enabling the increase in contactless payment limits across... Read more »

TransUnion Research Quantifies How Social Distancing is Changing Shopping Patterns

TransUnion (NYSE: TRU) today released new research that quantifies the spike in digital commerce since social distancing became widespread globally. The company found a 23%... Read more »

Wirecard expands presence in Mexico

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to... Read more »

Barclaycard to enable UK retailers to accept new £45 Contactless Limit

Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, will be rolling out the deployment of the new £45 contactless limit across UK retailers... Read more »

Digital Payments in Europe to Surpass $802bn Transaction Value This Year

The increasing number of mobile phone users and the massive growth of eCommerce have led to the rapid adoption of digital payments all over the world. Cashless payments have... Read more »

SumUp launches free Mobile Payments and Invoicing across Europe to help consumers pay safely and remotely via smartphone

As Europe moves into COVID-19 lockdown - affecting small businesses and retailers everywhere - SumUp, the London-headquartered fintech and leading provider of digital payments... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel