The real-time payments platform Volt has announced a new strategic partnership with EPG Financial Services, a leading payment services provider and e-money institution. Under this partnership, Volt will power real-time open banking payments for paylado, EPG's e-wallet solution. Paylado, which was built primarily for the German market, allows users to top up their accounts either through a network of cash deposit devices or via bank transfer.
The partnership leverages Volt's account-to-account (A2A) payment technology to offer paylado users instant and secure transactions. A2A payments transfer funds directly between bank accounts, bypassing traditional card networks, which results in lower transaction costs, faster settlements, and increased security. This move is particularly significant for iGaming merchants, who view instant payouts from a user's e-wallet back to their bank account as essential functionality.
Rupert Kainzbauer, EPG Financial Services' CEO, stated, “We chose Volt because of its multiple connections to bank APIs, in addition to its broad geographic coverage.” EPG sees Volt's extensive European reach as a means to seamlessly reach new users in additional markets. Founded in 2019, Volt is building the infrastructure for global instant payments and allows merchants and PSPs to securely process transactions between accounts at more than 5,000 banks in the UK, the EU and Brazil.
Paylado is an e-wallet application designed for the conversion of cash into e-money and back. Users can top-up and withdraw e-money in cash using terminals across Germany, as well as at an additional 33,000+ locations through its partnership with CashtoCode. The app also offers electronic bank transfers and instant money sending to and from paylado friends. EPG Financial Services, a German-owned subsidiary of the Gauselmann Group, is the developer and owner of the paylado solution.
Anna Gladka, Volt's Business Development Director, added, “We're thrilled to go live with paylado. From the moment we began speaking with EPG Financial Services, it became clear how closely our product capabilities align with their needs.” The partnership is further evidence of the strength of Volt's network and the onward customer experience it facilitates. Both companies look forward to exploring further use cases as the transformative power of open banking becomes more apparent.