The new feature, ‘Ebury Instant’, allows clients to make and receive payments immediately, regardless of currency and the cut-off time that usually applies.
Where both parties are Ebury clients, payments will arrive in the recipient’s account immediately, in the currency in which the funds were sent.
„Importantly, security has not been sacrificed for speed. Double verification is required before the first payment is made to a new beneficiary, and all payments are checked by Anti-Money Laundering & Screening systems. The service is automatically activated for all of Ebury’s clients.”, according to the press release.
Juan Lobato, Ebury CEO: “Ebury Instant means international transactions which would previously have taken minutes or hours, are now immediate. Making global payments easier, faster, and more flexible is at the heart of what Ebury does. This is a natural progression for us, and one we believe will make a tangible difference to our clients who are able to improve their relationships with buyers and suppliers by using the Ebury global ecosystem. Chasing payments will be a thing of the past for our clients”.
The service allows clients to accelerate their business operations. For the beneficiary it means immediate cash inflow, while the payer benefits from immediate payment settlement, enabling faster execution of ‘cash in advance’ transactions.
„We expect a particular impact on clients making recurrent transactions with the same payer or beneficiary.”, the company said.
Juan Lobato, Ebury CEO: “Now more than ever, rapid access to funding is essential for companies, and will remain so over the coming weeks and months. The more agile our payments systems are, the more we can achieve in supporting our clients.”
Founded in 2009, Ebury Partners UK Ltd is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. The company already has operations in 17 countries and 140 currencies, and has increased its revenues by an average of 50% per year over the past three years.
With more than 45000 clients, Ebury has traded $23bn in the last 12 months.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
