Commerzbank is preparing for the arrival of instant payments across Europe by outsourcing all of its payments processing in the Single Euro Payments Area (Sepa) to equensWordline.

The ten-year contract will see equensWorldline take over all Sepa instant, multi-currency, and domestic payments – equating to four billion transactions per year – on behalf of the bank, migrating legacy inhouse architecture to the equensWordline platform.

The bank says the arrival of instant payments in Europe brings with it a complex regulatory and operational burden, better handled by a specialist payments processor and paid for on a managed service basis.

Michael Steinbach, managing director for financial services and CEO equensWorldline, says: “This new relationship is a significant step for our company, providing clear evidence to the market that we are the partner of choice for processing all payments of a globally operating bank. It is also a strong signal to banks to test their operating models and explore the benefits of outsourcing their payments operations.”

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