Wednesday, September 13, 2006

Interpay receives SWIFT-permission to operate EU-wide

Website of Interpay: Interpay is the first payment processor to receive the SWIFT Board’s permission to expand its SWIFTNet Market Infrastructure Closed User Group (MI-CUG) to financial institutions in the 25 EU countries.

This means that Interpay will be ready to provide services to institutions with a SWIFT connection well in advance of the introduction of the Single Euro Payments Area (SEPA). In the Netherlands, Interpay has accumulated extensive experience with a SWIFT MI-CUG. This facility is currently used by ten banks.