Commerzbank turns to equensWorldline for payments processing
EquensWorldline will process all of Commerzbank’s SEPA, instant, multi-currency, and domestic payments for a period of ten years.
The duo says a two-phase approach will be used to cement this partnership. During the first phase, which is already underway, equensWorldline will, together with Atos, manage the existing legacy payment applications.
In the second phase, the majority of the applications will be replaced by the newest equensWorldline platform technologies, which includes instant payments.
After this migration, approximately four billion Commerzbank payment transactions will be processed per year by equensWorldline.
Michael Steinbach, MD for financial services and CEO of equensWorldline, says: “Today, we live in a real-time world and payments need to be real time as well. Banks like Commerzbank have recognised this and are adapting their digitalisation strategies accordingly.”
In a separate contract, signed earlier, Commerzbank will also outsource its financial messaging Swift infrastructure to equensWorldline. This platform is based on a new partnership with Intercope and its BOX Messaging Hub.
Last month, Commerzbank chose Google for its mobile payments in Germany – giving the bank’s customers the option to pay via smartphone.
EquensWorldline is supporting the bank with technology based on its mobile payment platform for the launch of Google Pay.
