Iberpay

Jan 11, 2023

External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Inversis places Pecunpay as the first e-money institution in the Spanish payments system 10 minutes ago Source: Inversis Inversis, a subsidiary of the Banca March Group specialising in the provision of global solutions addressed to institutional clients for the financial asset distribution business, has become a direct participant in the national payment system managed by Iberpay. It offers its services to Pecunpay, specialised in personalised payment solutions through issuing and acquiring services. This makes Pecunpay the first E-money institution in the Spanish payments system. Thanks to the agreement with Inversis, Pecunpay will be able to operate with its own Spanish ibans and from January 2023, the company's customers will be able to offer their users ordinary transfers and direct debit services without any intermediaries. In total, more than 2 million users will be able to benefit from these new services, in addition to the instant payment services already offered by the entity. Inversis is the first banking institution to offer services to this type of entities, providing them with a complete service and being able to represent them in the national payment system thanks to its bank token. In this respect, Inversis, as a direct participant in the national payment system managed by Iberpay, will assume responsibility arising from the exchange of transactions carried out by Pecunpay. In particular, it will become the guarantor for the settlement of its payment obligations arising from the exchange, clearing and settlement. This new service provided by Inversis enables Pecunpay to streamline the management of transfer issuance and debit acceptance operations. This model of direct participation of Inversis in Iberpay reinforces its leadership position as a leading provider of technological services, allowing it to expand its business model and its offer to fintechs and neobanks. Besides, this model brings to Inversis’ experience as a service company the advantages of having a bank token and responds to the growing demand for this type of services by digital entities. Related Companies