LHV and Form3 to improve access to real-time payment in Europe

Source: IBS Intelligence 2020-05-18

Payment services provider LHV has announced an extended partnership with cloud-native payment technology provider, Form3. The companies aim to facilitate the delivery of a single API-based payments platform for giving FinTechs and financial institutions with access to instant payments in both GBP and Euro via the UK Faster Payments and the SEPA Instant Schemes.

Andres Kitter, Head of LHV’s UK Operations, said, “We have enjoyed a close working relationship with Form3 for many years, and we view this further, mutually beneficial, partnership as the next logical step to extend our reach. This partnership will give Form3’s clients access to LHV’s unique service proposition and is thereby expected to increase the existing deal flow. We’ve always strived to deliver robust and cutting-edge services that enable businesses to function as smoothly and efficiently as possible. Providing them with a single platform from which both SEPA and Faster Payments can be accessed, will do just that. LHV’s own existing full-service proposition has been received with much enthusiasm in the fintech space and our easy to use API framework is used by a growing number of companies.”

The partnership will see Form3 provide its Customers with access to both instant Euro and GBP payments through the joint platform initiative. LHV is expected to become Form3’s first payment service provider to offer real-time services through its API platform. The collaboration will also allow access to existing banking services provided by LHV such as safeguarding funds, Virtual IBANs, multicurrency bank accounts and currency exchange, etc.

Form3’s Chief Product Officer, Mike Walters commented, “Since our founding days in 2016, Form3’s purpose has been to democratise payments for the global financial community, making it easier, faster and more cost-effective to move money in real-time. Our partnership with LHV gives Financial Institutions the best of both worlds – real-time payments processing to the universe of payment schemes and LHV’s leading banking services, all accessible from a single API integration.”

LHV and Form3 to improve access to real-time payment in Europe

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