Equals Group PLC Equals joins Single Euro Payment Area network (4947B)
14 Febrero 2022 - 12:59AM
UK Regulatory
TIDMEQLS
RNS Number : 4947B
Equals Group PLC
14 February 2022
For immediate release 14 February 2022
Equals Group plc
('Equals' or the 'Group')
Equals joins Single Euro Payment Area (SEPA) network
Equals (AIM:EQLS), a leading fintech payments group focused on
the SME marketplace, is pleased to announce that, via its
subsidiary Spectrum Payment Services Limited ('SPS'), the Group has
been accepted by the European Payments Council ('EPC') to join the
SEPA Instant and SEPA Credit Transfer schemes for Euro
payments.
Connecting to the SEPA schemes will allow Equals customers to
receive instant Euro credits to their "own-name multi-currency
IBAN" and instantly send Euro payments to other scheme members.
Joining SEPA is another key step in the Group's strategy to
integrate to payment networks, thereby speeding up movement of
funds for its customers and improving their working capital
management. Direct integration also allows the Group to maintain
control over the customer experience and reduce reliance on third
parties, thereby eliminating costs and improving reliability.
Integration with SEPA, combined with Equals' direct membership
of the UK's Faster Payments Scheme, means that all transactions in
the key currency pair of GBP/EUR become instant for Equals
customers.
James Simcox, Chief Product Officer, said: "We are delighted to
be live on both SEPA Instant and SEPA Credit Transfer and are
excited for the real value this will drive for our customers.
Businesses today are operating 24/7 and these new SEPA capabilities
deliver payments for those customers in real time when they need
them. We are very excited about the new products we can deliver to
our customers on these payment rails, particularly in the Equals
Solutions space. It is a testament to the highly flexible
technology platform we have built that we have been able to deliver
connectivity to this new payment network in under six months."
Ian Strafford-Taylor, Chief Executive Officer, said:
"Integration to another payment scheme demonstrates our ongoing
commitment to direct connectivity and rapid movement of funds. This
development is in line with the Group's objective to continue to
improve our efficiency and scale, driving down our cost base and
exploring new revenue opportunities as a leading fintech."
- Ends -
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778
Richard Cooper, CFO 9308
www.equalsplc.com
Canaccord Genuity (Nominated Advisor
/ Broker)
Max Hartley / Georgina McCooke Tel: +44 (0) 20 7523
Alex Aylen (Sales) 8150
Buchanan (Financial Communications)
Henry Harrison-Topham / Steph Whitmore Tel: +44 (0) 20 7466
/ Toto Berger 5000
equals@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
Equals Group is a technology-led international payments group
augmented by highly personalised service for the payment needs of
SME's whether these be FX, card payments or via Faster Payments.
Founded in 2007, the Group listed on AIM in 2014 and currently
employs around 250 staff across sites in London and Chester. For
more information, please visit www.equalsplc.com .
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END
MSCUASNRUWUUAAR
(END) Dow Jones Newswires
February 14, 2022 01:59 ET (06:59 GMT)
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