Major French bank launches instant payments for financial institutions

From now on, instant payments will be available to its bank, payment and electronic money institution clients

Societe Generale

Major French bank launches instant payments for financial institutions. Source: shutterstock.com

Societe Generale provides its bank, payment and electronic money institution clients with a dedicated offering, targeting financial institutions without instant payment availability. The bank has developed an API that allows integrating directly into each client’s banking processes and information systems.

This way, they can offer their end-users instant payment, both in transmission and reception, denominated in euro within the Single Euro Payments Area (SEPA) zone, 24/7/365.

Societe Generale is one of the very first banks to create a dedicated offering making instant payment available for those financial institutions. It is the perfect illustration of our ambitions in the payment business, and our desire to offer our customers innovative and efficient solutions that best meet their needs
Jean-François Mazure, Head of Cash Clearing Services

The launch of the instant payment feature will allow users to build on Societe Generale’s expertise, whose infrastructures will process each payment in less than 10 seconds.

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