Banque Raiffeisen Taps Worldline for EU-Mandated Instant Payments

Worldline has signed an agreement with Banque Raiffeisen to provide cloud-based instant payments processing in Luxembourg. The partnership will enable Banque Raiffeisen to send and receive instant payments as mandated by the EU's Instant Payments Regulation.

Worldline to Provide Cloud-Based Instant Payments Processing for Banque Raiffeisen

The new agreement will leverage Worldline's cloud infrastructure to offer Banque Raiffeisen smarter and quicker onboarding processes and connection to the TIPS, a Eurozone platform for settling instant payments.

Worldline already has a long-standing relationship with Banque Raiffeisen, providing services such as clearing and settlement of SEPA credit transfers and issuing processing.

“Through our offering, Banque Raiffeisen will benefit from a comprehensive instant payments solution and a fast time to market that provides added value. We look forward to working more closely with Banque Raiffeisen in new and exciting ways,” said Sheri Brandon, CMO of Financial Services at Worldline.

We are pleased to announce that we signed a contract with #BanqueRaiffeisen, making them #Worldline's first client on our cloud-based #instantpayments solution in Luxembourg. Read more at https://t.co/P8k4OYBw4f#Payments pic.twitter.com/vTFg3f634C

— Worldline (@WorldlineGlobal) May 29, 2024

Eric Peyer, a member of Banque Raiffeisen's executive committee, commented that thanks to access to instant payments, the bank will expand the range of services it offers to its clients and prepare for further development in the areas of point-of-sale and peer-to-peer payments.

“We have signed this agreement with Worldline, a valued partner for the 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 settlement of SEPA payments for over 15 years, because we are confident that this allows us to smoothly implement instant payments in line with the regulatory requirements and deadlines,” added Peyer.

New Partnerships

Two weeks ago, Worldline formed a partnership with Visa to serve as its global scheme partner, aiming to provide online travel agencies (OTAs) with a specialized B2B virtual card program.

In April, Crédit Agricole and Worldline collaborated to introduce CAWL, a new brand designed to offer customized solutions to merchants across various industries. CAWL merges Worldline's expertise in global 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 services technology with Crédit Agricole Group’s banking market presence.

Worldline's Recent Financial Performance

The French payment and transactional services company reported a first-quarter group revenue of nearly €1.1 billion for 2024, achieving an organic growth of 2.5%. The revenue breakdown shows €787 million generated from merchant services, an increase of 3.9%, and €225 million from financial services, which saw a decline of 1.4%.

Additionally, in late February, Worldline disclosed its annual results for 2023, noting an organic revenue growth to €4.61 billion, a 6% increase from the previous year. For 2024, Worldline has set a target for at least 3% organic revenue growth and aims for €1.17 billion in EBITDA.