Natixis Payments selects Swift for instant payments
Natixis Payments has selected Swift to provide connectivity to Target Instant Payment Settlement (TIPS) within the Single European Payments Area (SEPA).
“Direct access to TIPS with SwiftNet Instant makes the most sense for us because it enables us to leverage our current Swift Infrastructure [and] work with a trusted partner who knows our business,” says Jean-Luc Thérond, deputy CEO, head of financial institutions and processing, Natixis Payments.
Launching in November 2018 to coincide with the launch of TIPS, the euro real-time payments service commissioned by the Eurosystem, Swift’s new messaging service will allow instant payments to be made across Europe through both TIPS and EBA Clearing RT1 instant payments system.
According to Swift, it connects more than 11,000 banking and securities organisations, market infrastructures and corporate customers in over 200 countries and territories.
Swift says it is supporting customers as they move to meet the Eurosystem’s 2020 plan, which envisages access to Target2, Target2 for Securities and TIPS through the Eurosystem Single Market Infrastructure Gateway (ESMIG).
