Ebury Fintech launches instant payment service in Romania

Autor: Financial Market
Timp de citit: 2 minute

Ebury recently announced it has launched its new feature, ‘Ebury Instant’, which allows clients to make and receive payments immediately, regardless of currency and the cut-off time that usually applies.

Where both parties are Ebury clients, payments will arrive in the recipient’s account immediately, in the currency in which the funds were sent.

Juan Lobato, Ebury CEO declared: “Ebury Instant means international transactions which would previously have taken minutes or hours, are now immediate. Making global payments easier, faster, and more flexible is at the heart of what Ebury does. This is a natural progression for us, and one we believe will make a tangible difference to our clients who are able to improve their relationships with buyers and suppliers by using the Ebury global ecosystem. Chasing payments will be a thing of the past for our clients”.

Ebury Romania, the local subsidiary of the international fintech Ebury, estimated that 28% of the 12,300 companies in Romania with a turnover of over 1 million euros are already working with a fintech, while 66% of them are thinking about a partnership with a fintech financial service provider, according to information provided by the company, quoted by a local newspaper.

Importantly, security has not been sacrificed for speed. Double verification is required before the first payment is made to a new beneficiary, and all payments are checked by Anti-Money Laundering & Screening systems. The service is automatically activated for all of Ebury’s clients.

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The service allows our clients to accelerate their business operations. For the beneficiary it means immediate cash inflow, while the payer benefits from immediate payment settlement, enabling faster execution of ‘cash in advance’ transactions. We expect a particular impact on clients making recurrent transactions with the same payer or beneficiary.

Ebury hopes the new feature will provide a timely difference for firms during the COVID-19 pandemic.

Juan Lobato, Ebury CEO: “Now more than ever, rapid access to funding is essential for companies, and will remain so over the coming weeks and months. The more agile our payments systems are, the more we can achieve in supporting our clients.”

Founded in London in 2009 with global offices, Ebury provides personalized foreign exchange and financing services to more than 32,000 companies worldwide, helping them manage currency risk and strategically plan their approach to payments. to accelerate growth. Internationally, Ebury has been included in the Tech City Future 50 and Deloitte Technology Fast 50 2017 charts, which reward the fastest growing technology companies in the UK.

At the end of last year, Santander bought a majority stake in UK fintech Ebury for £350m.