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It is a continuation of an existing partnership between Froda and Lunar which launched in Denmark in 2023.
Account-to-account payments and digital wallets are among the new payment methods being looked into by merchants and retailers as they seek to address cross-border commerce.
The payment follows the increase in the RTP network’s transaction limit from $1 million to $10 million.
The Ministry of Housing, Communities and Local Government has committed to open up “key property information” as part of plans to modernise the home buying and selling process in the UK.
For businesses, the new version of Autogiro will result in more “on-time” payments and reduce administrative workload.
The partnership with Banfico means that ACI Worldwide can offer VoP and CoP services to UK and European banks and PSPs.
The eight companies chosen by Mastercard will participate in a dedicated ‘New Networks’ program.
The partnership comes as there is growing demand for Pay by Bank solutions in the US.
The new product aims to address the ‘inefficiencies’ of traditional electronic funds transfers.
Startup Coalition and the Tony Blair Institute for Global Change have published a report ‘Making Smart Data happen’.
