Form3 and Barclays announce directly connected access to SEPA Instant Payments for Non-banks

Laura Francis from Form3
05 May 2020

Form3 and Barclays have announced a combined directly connected access solution to the SEPA Instant payment scheme with Ebury as launch client.

This is the first solution of its kind in Europe that enables direct technical scheme access for non-banks such as FinTechs. Directly connecting to SEPA Instant without the need for a Central Bank brings real-time payments to new banks and payment providers.

For non-banks this industry first model signifies another important step on the Form3 mission to democratise access to payment schemes. Combining with Barclays expertise in providing liquidity service support, the delivery of this model allows FinTechs to fully benefit from the advantages of real-time payment processing (such as 24/7 non-stop service and end-to-end processing in under 10 seconds).

Karen Braithwaite, Global Head of Transaction Banking at Barclays, said: “Delivering this outcome to Ebury was only possible through the close collaboration with Form3 and the recognition of EBA Clearing that banks and Technical Service Providers need to coexist to make real-time payments a reality for non-bank payment service providers.“

For more information, please contact:
Laura Francis
Form3
laurafrancis100@hotmail.com

7 Harp Lane
EC3R 6DP London
United Kingdom

Category: Payments
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