Payments Fintech Banking Circle Chooses European Firm SIA to Provide Instant Payments
Banking Circle, the Payments Bank for the digital economy, has chosen
SIA, an established European hi-tech firm in payment services and infrastructures, controlled by
CDP Equity, in order to introduce its instant payments service in Europe “connecting to the TARGET Instant Payment Settlement (TIPS) service of the Eurosystem.”
As stated in the announcement:
“Thanks to SIAnet, the ultra-fast fiber optic network infrastructure, Banking Circle enables European financial institutions and corporates to execute instant payments in less than 10 seconds with a maximum amount currently set at 100,000 euros per individual transaction, 24/7, all year long, in line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).”