Switzerland goes instant: How Worldline’s solutions support Swiss instant payments

26 / 03 / 2024

Worldline connects its customers to the SIC5 (Swiss Interbank Clearing) payment system developed by SIX (SIX Interbank Clearing Ltd) and the Swiss National Bank for clearing and settlement of instant payments (IP) in Swiss Franc (CHF).

2 min.

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The SIC5 service allows transfer of instant payments in CHF 24 hours a day, 7 days a week and 365 days a year within 10 seconds from account to account. The service enables any bank that is active in the Swiss market to provide innovative financial services to their customers

Larger banks (>500.000 received customer payments) are obliged to be able to receive instant payments by August 2024 according to the regulation from the Swiss National Bank. The rest of the banks have time until November 2026.

In order to comply, the payment processing systems must be ready on time but also the connection to the SIC5 service must be set up, running and maintained by each SIC5 participant. With the connectivity service, Worldline’s Messaging Hub brings real-time processing to banks with a highly stable, secure connection to SIC5. With its back-office processing in the cloud, Worldline provides comprehensive instant payment processing services.

To make use of the SIC5 service and to be able to receive CHF instant payments, the bank can connect to Worldline’s Messaging Hub and receive the data via one of the standard messaging interfaces. Worldline handles the maintenance, updates, mandatory change requests, capacity, etc. of the connectivity services towards SIC5. To process instant payments offered to their clients or received on behalf of their clients, the bank may outsource the payment engine to Worldline instant payment back-office processing in the cloud, which also includes value-added services such as sanction screening and fraud prevention. 

With partnership, banks can expect the peace of mind that comes with a 24/7/365 availability based on a highly redundant setup in active-active mode, with full-scale operations from Worldline’s experts, who possess deep understanding of the technical-, business- and compliancy-related requirements.

We look forward to further support our customers with instant payments. Reach out to our team for more information on how this new service can benefit your business and ensure your readiness for Swiss instant payments. 

Learn more about our Messaging Service Bureau.

Learn more about our IP solution in Switzerland.

Amela Ajazaj

Amela Ajazaj

Senior Product Marketing Manager for Messaging and Connectivity Services at Worldline
Amela joined Worldline in 2011 and has managed different product portfolios including Swift Service Bureau. She holds a Master of Business from Goethe University Frankfurt.