By Juan Antonio Solís, Customer Success Officer of EUR Payments at Payments Hub
In the world of payment processing, the number 255 million represents not just a statistic, but evidence of our commitment to excellence. On September 18th and October 16th, we marked a significant milestone within Payments Hub one of our business units at PagoNxt.
255 Million Transactions and Counting: Celebrating Migration Milestone at Payments Hub
In the world of payment processing, the number 255 million represents not just a statistic, but evidence of our commitment to excellence.
On September 18th and October 16th, we marked a significant milestone within Payments Hub one of our business units at PagoNxt.
The successful production launch of SEPA Credit Transfer (SCT) exchanges with the European Banking Authority (EBA) and Iberpay (manage the Spanish interbank payments infrastructure (SNCE) through Payments Hub, impacting over 255 million transactions. This accomplishment is more than just a number; it’s a story of collaboration, innovation, and a glimpse into the exciting future of payment processing.
Join us as we explore the details of this remarkable achievement and why it’s such a big deal for PagoNxt.
SEPA Credit Transfer (SCT) Exchange with EBA and Iberpay: A Game-Changer
On those pivotal days, we put into production the SEPA Credit Transfer (SCT) exchanges with the European Banking Authority (EBA) and Iberpay through Payments Hub.
This accomplishment was a collaborative effort that involved payments from different geographies of Santander Group, as well as Ebury. While this may sound like technical jargon, the impact is far-reaching.
In terms of volume, this milestone represents an annual flow of more than 255 million new transactions within Payments Hub. That’s 255 million instances of funds being securely and seamlessly transferred, thanks to the hard work and dedication of our teams.
A Product Perspective: Versatility and Acceleration
Beyond the sheer volume, let’s talk about versatility. This newly implemented functionality isn’t a one-time use solution. It can be reutilized in other geographies connected to the EBA clearinghouses or in Spain with companies that need a connection to Iberpay. This versatility means that our achievement isn’t confined to a single use case; it’s a building block for future endeavours.
Moreover, this milestone serves as an accelerator. It speeds up the migration of payments from various geographies in Europe, North America, and South America. As a result, it will also enable our global plan, streamlining our systems and processes for our top-notch payments platform.
Pioneering Integration with Lean Core
What makes this achievement even more special is its pioneering nature within our group. The integration with Lean Core’s new accounting system is revolutionary. It’s about staying at the forefront of technological advancements and aligning our systems with industry’s best practices.
Teamwork Makes the Dream Work
Behind every milestone, there’s an incredible global team. We’ve witnessed wild cheers and the delightful scent of pizza and empty boxes through our offices, and now, the aroma of oregano, cheese and tomato sauce is synonymous with success.
We want to extend our heartfelt congratulations to all our dedicated global teams. Coordinating multiple teams from diverse cultures and group entities, both internally and externally, is no small feat. Their commitment to excellence has paved the way for this victory.
As we continue our journey, let’s remember that these milestones not only mark our progress but also lay the foundation for more efficient and safe payments processing in the future.
Let’s celebrate this achievement with Payments Hub and look forward to the exciting challenges and accomplishments that lie ahead.
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