Latest news with #InstantPayments
Finextra
23-05-2025
- Business
- Finextra
RT1 and STEP2 participants across 14 countries to adopt EBA's VOP solution
EBA CLEARING announced today that over 55 RT1 and STEP2 Participants across 14 countries are preparing to adopt its Fraud Pattern and Anomaly Detection (FPAD) Verification of Payee (VOP) solution to deliver VOP checks in compliance with the Instant Payments Regulation (IPR). 1 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. These participants will connect hundreds of payment service providers (PSPs) across Europe, already representing more than 40% of the traffic in STEP2 and RT1. This strong uptake is positioning FPAD as the leading pan-European VOP solution and building up significant reach for VOP across Europe in preparation for the upcoming IPR deadline in October 2025. At the same time, a new release of the VOP functionality has been delivered in May 2025. With this release, EBA CLEARING has integrated the European Payments Council (EPC)'s Directory Service (EDS) into its VOP offering and aligned its VOP interface with the EPC application programming interface (API). To ensure maximum flexibility and choice for PSPs, the release has further enriched the solution with additional requesting and responding options. It has also extended the available connectivity options, including managed connectivity over SWIFTNet and SIANet. Developed with the support and input from fraud experts across EBA CLEARING's multinational user community, the VOP solution builds on FPAD's capabilities to offer flexible options for both sending and receiving VOP checks. FPAD VOP reach will be significant amongst STEP2 and RT1 users and complemented with the EPC VOP Scheme reach. This will allow PSPs to evolve their VOP strategies over time while ensuring pan-European reach from day one. By using FPAD for VOP, PSPs can meet compliance requirements, reduce user friction and strengthen their fraud risk management. Dr. Patrik Pohl, Managing Director, Head of Corporate Cash Management Germany at Deutsche Bank, said: 'FPAD VOP stands out by going beyond standard VOP checks. We will be able to enrich account checks with additional FPAD indicators, which offer deeper insights to help us prevent fraud and avoid unnecessary friction for our corporate customers. With distinct user needs driving the design and development of FPAD, EBA CLEARING has delivered a comprehensive set of VOP solutions that provides stronger results, greater security and an improved client experience.' Sophie Giorgi, Head of Payment System and Infrastructure Relationships at Crédit Agricole Payment Services, said: 'For us, FPAD VOP is the best solution for cross-border transactions and provides a reliable back-up. What is more, with FPAD, we are not only getting a scheme-compliant, IPR-compliant VOP solution, but also access to a fully-fledged fraud detection solution leveraging a pan-European network view.' Tanja Konrad, Head of Daily Banking Services at Erste Group, said: 'Thanks to the pan-European approach and coverage of FPAD VOP, we will be able to roll out a single VOP solution across our network of banks in Central and Eastern Europe. We look forward to combining the VOP check with other FPAD indicators to strengthen our risk controls, while also making the VOP experience as smooth as possible for our customers.' Erwin Kulk, Head of Service Development and Management at EBA CLEARING, said: 'FPAD VOP is real and ready. PSPs have ample time to introduce the mandatory VOP in all their channels. By providing options and choice, we will be servicing a diverse and large group of PSPs. This formula has proven its value in operating pan-European market infrastructures. The broad adoption that FPAD VOP is already seeing today demonstrates the importance of a not-for-profit, user-driven approach to solve infrastructure challenges in the SEPA ecosystem.' EBA CLEARING's FPAD functionality was developed in 2023 with the support of fraud experts from STEP2 and RT1 Participants across Europe, following the release of a blueprint and subsequent RT1 and STEP2 user consultation in Q4 2022. STEP2 and RT1 are pan-European retail payment systems processing SEPA Credit Transfers and Direct Debits (STEP2) and SEPA Instant Credit Transfers (RT1) respectively. Both systems are operated by EBA CLEARING, a European-owned, European-governed and European-overseen financial market infrastructure provider providing cost-effective solutions to the SEPA payments ecosystem.
Finextra
23-05-2025
- Business
- Finextra
RTI and STEP2 participants across 14 countries to adopt EBA's VOP solution
EBA CLEARING announced today that over 55 RT1 and STEP2 Participants across 14 countries are preparing to adopt its Fraud Pattern and Anomaly Detection (FPAD) Verification of Payee (VOP) solution to deliver VOP checks in compliance with the Instant Payments Regulation (IPR). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. These participants will connect hundreds of payment service providers (PSPs) across Europe, already representing more than 40% of the traffic in STEP2 and RT1. This strong uptake is positioning FPAD as the leading pan-European VOP solution and building up significant reach for VOP across Europe in preparation for the upcoming IPR deadline in October 2025. At the same time, a new release of the VOP functionality has been delivered in May 2025. With this release, EBA CLEARING has integrated the European Payments Council (EPC)'s Directory Service (EDS) into its VOP offering and aligned its VOP interface with the EPC application programming interface (API). To ensure maximum flexibility and choice for PSPs, the release has further enriched the solution with additional requesting and responding options. It has also extended the available connectivity options, including managed connectivity over SWIFTNet and SIANet. Developed with the support and input from fraud experts across EBA CLEARING's multinational user community, the VOP solution builds on FPAD's capabilities to offer flexible options for both sending and receiving VOP checks. FPAD VOP reach will be significant amongst STEP2 and RT1 users and complemented with the EPC VOP Scheme reach. This will allow PSPs to evolve their VOP strategies over time while ensuring pan-European reach from day one. By using FPAD for VOP, PSPs can meet compliance requirements, reduce user friction and strengthen their fraud risk management. Dr. Patrik Pohl, Managing Director, Head of Corporate Cash Management Germany at Deutsche Bank, said: 'FPAD VOP stands out by going beyond standard VOP checks. We will be able to enrich account checks with additional FPAD indicators, which offer deeper insights to help us prevent fraud and avoid unnecessary friction for our corporate customers. With distinct user needs driving the design and development of FPAD, EBA CLEARING has delivered a comprehensive set of VOP solutions that provides stronger results, greater security and an improved client experience.' Sophie Giorgi, Head of Payment System and Infrastructure Relationships at Crédit Agricole Payment Services, said: 'For us, FPAD VOP is the best solution for cross-border transactions and provides a reliable back-up. What is more, with FPAD, we are not only getting a scheme-compliant, IPR-compliant VOP solution, but also access to a fully-fledged fraud detection solution leveraging a pan-European network view.' Tanja Konrad, Head of Daily Banking Services at Erste Group, said: 'Thanks to the pan-European approach and coverage of FPAD VOP, we will be able to roll out a single VOP solution across our network of banks in Central and Eastern Europe. We look forward to combining the VOP check with other FPAD indicators to strengthen our risk controls, while also making the VOP experience as smooth as possible for our customers.' Erwin Kulk, Head of Service Development and Management at EBA CLEARING, said: 'FPAD VOP is real and ready. PSPs have ample time to introduce the mandatory VOP in all their channels. By providing options and choice, we will be servicing a diverse and large group of PSPs. This formula has proven its value in operating pan-European market infrastructures. The broad adoption that FPAD VOP is already seeing today demonstrates the importance of a not-for-profit, user-driven approach to solve infrastructure challenges in the SEPA ecosystem.' EBA CLEARING's FPAD functionality was developed in 2023 with the support of fraud experts from STEP2 and RT1 Participants across Europe, following the release of a blueprint and subsequent RT1 and STEP2 user consultation in Q4 2022. STEP2 and RT1 are pan-European retail payment systems processing SEPA Credit Transfers and Direct Debits (STEP2) and SEPA Instant Credit Transfers (RT1) respectively. Both systems are operated by EBA CLEARING, a European-owned, European-governed and European-overseen financial market infrastructure provider providing cost-effective solutions to the SEPA payments ecosystem.
Associated Press
10-04-2025
- Business
- Associated Press
Montran Wins Central Banking Award for Payment Services Development
NEW YORK, April 10, 2025 /CNW/ -- Montran has been honored with the 'Payment Services Development' award at the Central Banking Awards. This prestigious recognition underscores Montran's commitment to achieving financial infrastructure interoperability through our Instant Payments System (IPS). The deployment of the Montran IPS in various regions around the world has been instrumental in empowering central banks, clearinghouses, commercial banks, NBFIs, MNOs, merchants, agents and end-users with a cutting-edge interoperable instant payment solution. With ten live instant payment systems (IPS) deployed across the globe—from Angola to Panama—Montran continues to empower financial ecosystems with innovative solutions that enhance transaction speed, security, and accessibility. The recent go-live of BORICA's TIPS Connectivity Module in Bulgaria further demonstrates Montran's commitment to advancing cross-border instant payments, ensuring operational efficiency and compliance with European standards. Driving Instant Payments Forward Montran's IPS platform has been designed for scalability, flexibility, and security, making it the preferred choice for central banks and national clearing systems. Built to support 24/7 real-time processing, the system offers: Advanced fraud management to safeguard transactions Seamless QR code-based payments for instant digital transactions 5,000+ transactions per second processing capacity Direct integration with international systems, including ECB TIPS and PAPSS Since the launch of its first IPS production system in 2018, Montran has continuously enhanced its platform with proxy alias modules, advanced liquidity management, and configurable fraud detection tools—ensuring a future-proof payment infrastructure. 'As instant payments become the global standard, we remain committed to helping central banks and financial institutions accelerate digital transformation with scalable, reliable financial infrastructure,' said Cristi Jurca, IPS Product Owner at Montran. Global Expansion & Future Innovations Montran's instant payments ecosystem is growing rapidly, with three additional systems currently in progress and major initiatives underway in Guatemala and Asia. The company is also focused on integrating IPS with emerging financial technologies, including Central Bank Digital Currencies (CBDCs) and enhanced fraud risk management solutions. 'The evolution of digital payments is accelerating, and Montran is leading the way by providing robust, real-time financial solutions that drive economic growth and financial inclusion,' said Ciprian Tesa, Chief Technology Officer at Montran. Montran remains committed to its purpose to unify the world financially by equipping central banks, financial institutions, and payment service providers with next-generation digital payment technology. About Montran Montran is the leading provider of Payment and Capital Market Infrastructure solutions, servicing the world's foremost financial institutions with mission critical installations and operations in over 90 countries. Discover more at
