Natixis Payments Connects to ECB Instant Payment Scheme TIPS

Fidelity National Information Services (FIS), a financial services technology company, announced this Tuesday that it has facilitated the connection of Natixis Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term 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-Luc Thérond, 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 Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term 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.