Numeral integrates Swift payment support, expanding global payment capabilities

In a significant move for the global payment industry, Numeral, a leading payment technology provider, has announced its support for Swift payments. This new capability allows companies and financial institutions to automate cross-border payments with their partner banks to more than 200 countries. This addition complements Numeral’s existing support for local European SEPA, UK Bacs, FPS, and CHAPS payments, positioning it as a comprehensive platform for managing a wide range of payment transactions from a single interface.

The integration of Swift payments into Numeral’s platform significantly broadens the payment reach for its customers, combining Swift’s global network with the speed, cost-efficiency, and extensive local reach of other payment schemes. Édouard Mandon, co-founder and CEO of Numeral, emphasized the strategic advantage this offers, stating, “Enabling our customers to leverage the Swift payment capabilities of the banks connected to Numeral dramatically expands their payments reach while keeping the benefits of managing all their payments from a single platform.”

Numeral’s capabilities for Swift payments are extensive, including the sending and receiving of Swift payments through partner banks, automatic reconciliation of Swift payments with corresponding bank transactions, and programmatic access to currency account statements, including latest available balances. This suite of features is designed to streamline the payment process, making it faster, more reliable, and less costly for businesses operating on a global scale.

Looking ahead, Numeral aims to continue its “more global, more local” strategy by supporting additional European payment schemes and integrating with more European banks. The company also plans to enhance its platform with more global payment options through networks like Swift and partnerships with global banks such as J.P. Morgan, BNP Paribas, and HSBC. This forward-looking approach underscores Numeral’s commitment to providing a versatile and robust payment infrastructure that meets the evolving needs of the fintech and banking sectors.

Founded in 2021 and having raised €13m from world-class investors like Balderton and eFounders, Numeral has quickly established itself as a pivotal player in the payment technology space. Its infrastructure powers the payment operations of European fintech leaders such as Swile, Spendesk, and Alma, and boasts a growing customer base across Europe. Moreover, its partnerships with leading banks including Barclays, HSBC, BPCE, BNP Paribas, and ABN AMRO highlight its significant role in the financial ecosystem.

Numeral’s strategic expansion into Swift payments marks a key milestone in its mission to revolutionize payment operations, enabling businesses to navigate the complexities of global payments with ease and efficiency.