Payment service provider Worldline is expanding its partnership with Commerzbank to enable it to offer real-time euro transfers to its customers in Austria, France, Italy, the Netherlands, Spain and the UK.。In addition, instant payments in Swiss francs can now also be processed in Switzerland.。

SNB faces deadline for instant payment compliance

A June 2021 decision by the Swiss National Bank (SNB) triggered the introduction of instant payments in Swiss francs.。According to the Swiss National Bank, from August 2024, financial institutions must accept such payments.。

This applies to major Swiss banks, including Commerzbank, whose annual trading volume exceeds 500 million euros, and the EU's upcoming instant payment regulations will require all other Swiss banks to comply with the regulations by 2026.。

Alessandro Baroni, head of financial services at Worldline, commented: "We are pleased to expand our already extensive partnership with Commerzbank.。With our international expertise and industry-leading solutions, Commerzbank is able to offer instant payment services in numerous European countries and offer its Swiss customers the opportunity to send and receive instant payments。Next, we show the utility of Worldline as an ideal partner for global banks。"

Upgrading payment services across Europe

Commerzbank is leveraging Worldline's scalable payment back-office processing platform to seamlessly integrate it into the banking system to facilitate these real-time transactions.。This strategic partnership ensures better payment services for customers in multiple European countries, in line with evolving regulatory requirements in a changing financial environment.。

Sebastian Kauck, member of the board of directors of the Commerzbank division and chief information officer for corporate clients, added: "The expansion of our existing business relationship with Worldline will help to better support Swiss customers and meet upcoming requirements in the Swiss instant payments sector.。Swiss market is the focus of Commerzbank。With business expansion in Europe, we are delighted to have Worldline as a partner。"