This month, we are happy to announce that we are now fully supporting SEPA indirect participant payment and related flows, starting with BPCE Payments as our first SEPA sponsor bank connected to the platform.
SEPA indirect participants are financial institutions, such as payment institutions, electronic payment institutions, or credit institutions, that connect to the SEPA schemes through a SEPA sponsor bank.
Becoming a SEPA indirect participant is a major step for growing financial institutions. It enables a much deeper control over payment flows and a much improved end-user experience. SEPA indirect participants can issue their own IBANs, send and receive payments in the names of their customers, and process related flows, such as returns and return requests. Becoming a SEPA indirect participant also comes with more complex bank integrations, additional payment and related messages to support, and longer implementation projects.
Numeral abstracts the complexity of becoming a SEPA indirect participant and connecting to a SEPA sponsor bank. With Numeral all SEPA indirect participant payment and related flows can be managing using a single API:
Sending payments through payment orders
Receiving payments through incoming payments
Processing payment status reports through events and webhooks
Managing return requests
Receiving account statements through balances and files
BPCE Payments is the first sponsor bank to be integrated with Numeral, with Société Générale and BNP soon to follow. You can view an up-to-date list of bank integrations in our API documentation.
To keep up to date of our latest banks integrations, check our full list of bank integrations.
Schedule time with one of our Payments Advisors if you interested in knowing more. Find more on our May changelog.