Nexi, a leading European PayTech, has announced a strategic partnership with Payac Services CLG, a credit union-owned payment services provider, to deliver SEPA Instant payments to all credit unions in the Republic of Ireland.
The collaboration will enable 176 credit unions to offer their members instant money transfer capabilities, enhancing convenience and efficiency. In addition to the instant payment service, credit unions will also benefit from Nexi’s robust anti-fraud solution, providing added security for their customers.
The partnership marks a significant step forward in the adoption of instant payments in Ireland, aligning with the upcoming regulatory deadline of January 2025. By leveraging Nexi’s technology, Irish credit unions can now compete more effectively with traditional banks and offer their members a modern, digital-first payment experience.
“This partnership underscores our commitment to supporting the credit union sector and empowering them to deliver innovative financial services,” said Renato Martini, Digital Banking Solutions Director at Nexi. “We are excited to be at the forefront of the instant payments revolution in Ireland.”
