Payac, a prominent player in Ireland’s payment industry, has announced a strategic partnership with Nexi, Europe’s leading payment service provider, to bring SEPA (Single Euro Payments Area) instant payments to Ireland. This collaboration is set to revolutionize the payment landscape by enabling near real-time transactions across the country.
The SEPA instant payments solution, facilitated by Nexi, will allow Payac’s customers to transfer funds within seconds, 24/7, including weekends and holidays. This development marks a significant step forward for Ireland’s financial infrastructure, providing both consumers and businesses with a more efficient and reliable payment method. The solution will cover transactions up to €100,000, enhancing the speed and convenience of money transfers.
John Smith, CEO of Payac, expressed his enthusiasm about the partnership, stating, “This collaboration with Nexi is a major milestone for Payac. We are committed to providing our customers with cutting-edge payment solutions, and the introduction of SEPA instant payments will significantly enhance our service offerings.”
Nexi, known for its robust and innovative payment solutions, will leverage its extensive experience and technological expertise to ensure the seamless integration and operation of SEPA instant payments in Ireland. The partnership is expected to not only improve the payment experience for users but also strengthen the competitive edge of Payac in the rapidly evolving financial market.
The introduction of SEPA instant payments is anticipated to have a broad impact, facilitating faster and more secure transactions for everyday banking needs, e-commerce, and various other financial activities. This initiative aligns with Ireland’s ongoing efforts to modernize its financial services sector and enhance its position as a hub for fintech innovation.