The extended partnership will enable Knab benefit from a dedicated access to Worldline's Instant Payments back-office service, along with other payment solutions such as SEPA, high-value and multi-currency payments
Knab extends partnership with Worldline. (Credit: Patrick Tomasso on Unsplash)
Knab has extended its existing partnership with Worldline, for its back-office processing services for SEPA Batch payments and multi-currency payments.
The Dutch online bank previously partnered with Worldline for its Instant Payments back-office services.
Under the extended partnership, Knab will benefit from a dedicated access to Worldline’s Instant Payments back-office service, for additional seven years.
The Instant Payments back-office service is part of the company’s modular EPC and PSD2 compliant back-office processing product portfolio that can be used by any bank.
In addition, Knab will also benefit from the portfolio’s capability to process other payment solutions such as SEPA, high-value and multi-currency payments.
Worldline Financial Services Northern and Western Europe chief market officer Sheri Brandon said: “We are delighted to be extending our partnership with Knab. The benefits of outsourcing back-office services to Worldline are clear.
“Our capability to act as an agile business partner is demonstrated by the extremely short time to market of Worldline’s back-office processing product portfolio.
“Moving forward, we can support Knab in a broader range of their business and, in turn, help them to service their customers in the best possible way.”
In a separate development, German aviation company Lufthansa Group has selected Worldline as its global partner and payments provider.
Under the partnership, Lufthansa can access a selection of Worldline solutions, from payment methods to consolidated reporting, and integrate with its core platforms.
Worldline will leverage its experience in airlines and expertise in the travel industry, and establish necessary payments infrastructure to meet the airline company’s needs.
The company will process payments for Lufthansa Group and its affiliates worldwide, including SWISS, Austrian Airlines and Edelweiss, among others.
Lufthansa will use Worldline’s airline-specific services including Billing and Settlement Plans (BSP) and Accounts Receivable Conversion (ARC) along with its unique TravelHub solution.
Lufthansa Group payments head Kai Schilb said: “We were looking for a global partner that could offer a strong payments layer to drive innovation, growth and most importantly increase our conversion rates.
“Worldline recognised the challenges the industry faces and worked tirelessly with us to create a relationship that encourages future growth and stability to our group.”