Lender Alpha Bank Romania has launched an instant money transfer service in partnership with Netopia Payments platform, Wall-street.ro reported.
Separately, the bank teamed up with non-bank financial institution (IFN) Viva Credit and the loan extended by the latter become instantly available on the client’s card.
Viva Credit is the first IFN to use this transfer option from Netopia Payments to provide instant credit to its customers. The credit agreement is signed online, by completing a form by the client, and the entire financing process is automated, according to a press release issued by the company.
The fast money transfer service is developed by Netopia Payments, and implemented in partnership with Alpha Bank Romania, using Mastercard Send and Visa Direct solutions.
According to Netopia, the service is functional for any industry and can also be used for automatic refunds by online stores to clients who return their products.
"The possibility of transferring the funds instantly to the beneficiary begins to become a standard expectation of clients in Romania," said Cristian Dragos, Executive Vice President Retail at Alpha Bank Romania.
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