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.
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 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 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.
