Waiting for a payment to clear can be one of the most tedious tasks in today’s fast-paced society.
With ecommerce picking up steam over the last few years, more and more consumers are not only expecting but demanding fast-paying systems in order to expedite the buying process.
Here to help remedy this dilemma is global payments and compliance systems company Pelican. In the EU this week, the company launched its real-time payments and compliance solution, PelicanFast. With this new offering, payments can be processed instantaneously between 34 different European countries.
Pelican’s founder and CEO, Parth Desai, described the many benefits of the company’s new offering in a press release: “The Pelican payments and real-time compliance service is unique in the way it uses the AI discipline of natural language processing to provide the highest levels of compliance, whilst still ensuring all validations are conducted within the strict processing time limits dictated by real-time schemes. Using PelicanFast, banks can gain quick access to the liquidity and service benefits of real-time transactions, avoiding the traditional implementation headaches and costs associated with a major systems overhaul.”
With this launch, EBA Clearing has included Pelican in its ‘Frontrunner Service Providers’ list, which was founded to identify those companies that enhance early adopters’ connection to its pan-European real-time payment infrastructure. As many European banks couldn’t handle both instant payment processing and regular business, FastPelican significantly improves finance by balancing both.
Fast-payment processes will no doubt continue to be a staple of the ecommerce world, and we may see more platforms like this pop up around the globe in the years to come.