Volante Technologies Inc., a global provider of software to accelerate digital transformation and modernization, today announced that it is providing end-to-end SEPA (Single Euro Payments Area) instant payments processing as an on-demand managed service on Microsoft Azure. Volante’s SEPA Instant Payments as a service will provide all payment service providers (PSPs) certified access to the two principal pan-European schemes, EBA CLEARING’s RT1 and ECB’s TIPS, through the high-speed, secure messaging and low-latency SIAnet network.
Powered by VolPay, Volante’s ecosystem of business services for the entire payments lifecycle, the service allows any market participant to send and receive instant payments through TIPS and RT1, avoiding costly and time-consuming in-house deployment of RTP infrastructure projects. Institutions can instead focus on accelerating the delivery of new services to their end-customers, and speeding onboarding across a variety of retail and commercial use cases. The service’s multi-network architecture ensures that institutions can easily support both today’s SEPA instant payments networks and future ones, without onerous rework.
“Managed service approaches are an ideal fit for instant payments,” noted David Bannister, Senior Analyst, Aite Group. “They allow providers to go live with very low volumes while they fine tune their business cases, but still preserve their ability to keep up with market demand as volumes rise. Because instant payments are new, no migration from existing systems is required, significantly reducing implementation times.”
Domenico Scaffidi, Director of Business Development at Volante Technologies, added, “Demand from European institutions for rapid access to instant payments capabilities is on the rise. We are excited to be expanding our payment processing managed service with SEPA instant payments capabilities to meet this demand and to be certified by SIAnet as a multi-network solution delivering more choice for our customers.”
Janet Lewis, VP Worldwide Financial Services, Microsoft, said, “Volante’s cloud-based payments services provide significant benefits to clients, and we are delighted they have chosen Microsoft Azure to host their SEPA instant payments as a service.”