Lithuania

Lithuania’s Bankera Enables SEPA Instant Payments for Businesses

by Fintechnews Baltic April 19, 2021

Lithuania-based Bankera, a fintech focused on serving blockchain businesses, recently announced support of the SEPA Instant payments.

With this move, both personal and business clients have access to instant transfers within more than 2,300 banks and financial institutions among the Single European Payment Area (SEPA) network at any time including holidays.

The option allows to process deposits and withdrawals within SEPA instantly; businesses offering this possibility are much more attractive to end-users, as it significantly decreases the time required to process payments.

Besides, it opens up a way for companies to settle with suppliers or business partners in seconds.

Vytautas Karalevicius

“Our electronic money institution becoming a member of SEPA Instant network gives us the benefit of providing faster payment solutions for our clients. In most cases, businesses that use our services have a strong retail user base.

 

Thus, the possibility to access instant payment infrastructures is vital for them”,

said Vytautas Karalevičius, co-founder of Bankera.

At Bankera, businesses can get a multi-currency account with a dedicated IBAN to make SEPA and SWIFT payments at highly competitive prices. Also, Bankera offers Visa business cards with high and flexible limits, which allows them to cover various business expenses such as marketing, hosting, and other services where card payments are accepted.

In addition to traditional payment services, Bankera also offers card issuance, BIN sponsorship, virtual IBANs, and tailor-made full-scope whitelabel solutions. Bankera helps various digital businesses, operating in industries like eCommerce, hosting, and IT, to upsell their existing clients with new traditional payment channels, such as cards and IBANs, or to start developing their own fintech solutions without building the infrastructure from scratch.

Bankera’s solutions are powered by Pervesk, an electronic money institution authorised by the Central Bank of Lithuania. In addition to SEPA Instant, Pervesk became a principal member of the Visa network last December.