Commerzbank Extends Collaboration with Worldline, Unveiling Real-Time Euro Transfers

<p>Worldline, a payment service provider, is expanding its
partnership with Commerzbank. This extension allows Commerzbank to offer
real-time euro transfers for its customers in Austria, France, Italy, the
Netherlands, Spain, and the United Kingdom. Additionally, instant payments in
Swiss francs can now be processed in Switzerland.</p><p>Major Swiss Banks Facing Deadline for Instant Payments
Compliance</p><p>The move to introduce instant payments in Swiss francs was
triggered by a decision in June 2021 from the Swiss National Bank (SNB). According
to the SNB, accepting such payments will be mandatory for financial
institutions starting August 2024. </p><p>This applies to major Swiss banks, including Commerzbank,
with an annual transaction volume exceeding 500 million. The forthcoming EU
regulation on instant payments will require all remaining Swiss banks to
comply by 2026.</p><p>Alessandro Baroni, the Head of Financial Services at
Worldline, commented: "We are delighted to expand our already extensive
partnership with Commerzbank. With our international expertise and
industry-leading solutions, we enable Commerzbank to offer instant payments in
numerous European countries and also give its Swiss customers the opportunity
to send and receive instant payments. This next step in our partnership
showcases <a href="https://www.financemagnates.com/tag/worldline/" target="_blank" rel="follow">Worldline</a>’s role as the ideal partner for banks worldwide."</p><p>Elevating Payment Services Across Europe</p><p>Commerzbank is leveraging Worldline's scalable Payments
Back-Office processing platform, seamlessly integrated into its banking
systems, to facilitate these real-time transactions. This strategic partnership
ensures enhanced payment services for customers across multiple European
countries, aligning with evolving regulatory requirements in the ever-changing
<a href="https://www.financemagnates.com/tag/financial/" target="_blank" rel="follow">financial </a>landscape.</p><blockquote><p lang="en" dir="ltr">News about <a href="https://twitter.com/hashtag/InstantPayments?src=hash&amp;ref_src=twsrc%5Etfw">#InstantPayments</a>! <a href="https://twitter.com/hashtag/Worldline?src=hash&amp;ref_src=twsrc%5Etfw">#Worldline</a> is extending its partnership with <a href="https://twitter.com/commerzbank?ref_src=twsrc%5Etfw">@commerzbank</a>, enabling customers in Austria, France, Italy, the Netherlands, Spain and the UK to send and receive real-time transfers in euros. Learn more in our <a href="https://twitter.com/hashtag/PressRelease?src=hash&amp;ref_src=twsrc%5Etfw">#PressRelease</a>: <a href="https://t.co/7WeRQqyo6F">https://t.co/7WeRQqyo6F</a> <a href="https://t.co/a5OnENF9D3">pic.twitter.com/a5OnENF9D3</a></p>— Worldline (@WorldlineGlobal) <a href="https://twitter.com/WorldlineGlobal/status/1750073482832941098?ref_src=twsrc%5Etfw">January 24, 2024</a></blockquote><p>Sebastian Kauck, the Divisional Board Member and CIO Corporate
Clients at Commerzbank, added: "The expansion of our existing business
relationship with Worldline will help us to better support our Swiss customers
and implement the upcoming requirements in the Swiss instant payment sector.
The Swiss market is an important focus for <a href="https://www.financemagnates.com/tag/commerzbank/" target="_blank" rel="follow">Commerzbank</a>. As we expand our
offering across Europe, we are pleased to have Worldline as a reliable partner
at our side."</p>

This article was written by Tareq Sikder at www.financemagnates.com.