Raiffeisen Bank Romania launches instant payments

Source: Raiffeisen Bank website, www.raiffeisen.ro

Raiffeisen Bank in Romania launches instant payments, thus entering the top seven banks that joined the Transfond scheme.

The product facilitates the transfer of money in a few seconds and is available 24/7/365 in the Raiffeisen Smart Mobile application, payment authorization being possible with biometric elements, or PIN in complete safety way.

In the first stage, the instant service (interbank payments of less than RON 50 thousand, made to banks in the instant payment scheme) was made available to Raiffeisen Bank`s private customers.

At this moment, all Raiffeisen Bank`s customers – individuals and legal entities – can instantly receive money that is sent through banks in the instant scheme.

“The main feature of instant payments is “real-time transactions”, the amount transferred reaches the beneficiary’s account in a maximum of ten seconds from the initiation of the payment. In addition, the non-stop availability of the service will position the product at the top of consumers’ preferences, but also of companies that collect their money instantly. Thus, opportunities are created to configure and launch new banking products and services based on the “instant ecosystem”, such as payments through QR codes,” said Florentina Stilu, Director of Transactional Services at Raiffeisen Bank.

Source: LinkedIn

“We have over 2.3 million individual customers, half of them (1.15 million) are digital customers. By launching instant payments, we want to attract all our customers to the digital age. Those who have a current account at Raiffeisen Bank must use the Smart Mobile application, and their experience as a current account holder will improve significantly. As you know, the costs are RON 0, if only one monthly payment is made. I can also assure customers that the security of transactions is permanently monitored by the Bank through all available means. It is one of our major concerns,” said Vladimir Kalinov, Retail Vice President at Raiffeisen Bank.


Source: the Bank`s press release dated September 07, 2022