DFM Taps Worldline for Instant Payments, CSM Partner

Mobility sector financing partner DFM has tapped global payment services firm Worldline for instant payments and to serve as its clearing and settlement mechanism (CSM) partner.

Under a five-year contract, Worldline is now managing instant payments and back-office processing services for DFM through its payment license partner Volkswagen Bank using Worldline’s Instant Payments Clearing & Settlement mechanisms and Instant Payments back-office solutions, according to a press release on Tuesday (Sept. 27).

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Worldline’s Instant Payments service is part of the company’s modular back-office processing product portfolio, which also handles other payment types and is compliant with regulations from the European Payments Council and PSD2.

“Our industry requires us to work closely with our clients and react to their evolving finance requirements. With Worldline as our partner for processing Instant Payments, we value their flexibility and future-proof services that we can, in turn, use to better support our customers,” said Jeroen Notmeijer, managing director of DFM and Branch Manager of Volkswagen Bank.

Implementation time is roughly nine months, and the portfolio can be used by banks of any size. The short time to market gives DFM and other Worldline customers time to “quickly reap the benefits of outsourcing and provide their end-customers with solid and future-proof solutions,” according to the release.

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Companies that process payments might make use of outsourcing back-office services when introducing new operating models for their business.

“This partnership with DFM highlights the benefits of outsourcing back-office services to Worldline. Following the closing of this five-year contract, we have successfully implemented the complete Instant Payments back-office and a connection to the Clearing & Settlement mechanism within nine months. This demonstrates our capability to act as an agile business partner,” said Worldline Global Financial Services Deputy Head Alessandro Baroni.

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