Payment solutions provider and BIN sponsor Moorwand has announced the firm has gained access to the SEPA scheme (Single Euro Payments Area).
Directly impacting its digital banking service customers, joining SEPA enables Moorwand clients to access an initiative for cross-border transactions in Europe.
“Innovation is vital if new services are going meet the needs of ‘I want it now’ digital natives,” commented Robert Courtneidge, CEO, Moorwand.
“However, as consumer fintech has boomed, so has the demand for more intuitive, imaginative financial services, as well as convenient access to now ‘tablestakes’ services like cross-border payments.
“But consumers cannot stand friction – if a wire transfer across the continent isn’t fast or seamless – they won’t wait, they will simply walk.”
SEPA is active across a total of 36 participating nations, including all EU member states and EEA members.
The addition joins Moorwand’s existing range of payment solutions which includes: Faster Payments, BACs and Direct Debits.
Courtneidge concluded: “Moorwand is helping its customers meet these building pressures to deliver with deep regulatory knowledge to build services firmly anchored in compliance but at the edge of innovation.
“With access to Faster Payments, BACs, Direct Debits and now SEPA from a single compliant connection, our customers will be able to offer a fuller range of payment options to an increasingly demanding set of consumers and in an age of continuous innovation.”
