The electronic money institution Pecunpay (Pecunia Cards EDE) has connected to the Spanish Payment System as “accessible entity” through the direct participant Inversis

The Spanish Payment System has thus standardized to other European payment systems where payment and e-money institutions participate since some time ago as "accessible entities" to send or receive payments.

On December 1, the Spanish Payment System, managed by Iberpay, incorporated the first electronic money institution, Pecunpay (Pecunia Cards EDE), as an "accessible entity" in the payment system through the credit institution Inversis, a direct participant and member of the system, acting as settlement entity for its transactions. As of this date, Pecunpay can process in the system the payment transactions (credit transfers and direct debits) of its clients and users with their own IBAN codes.

The Regulations of the Spanish Payment System were adapted in December 2020 in order to allow access to payment institutions and e-money institutions as "accessible entities" in the system, in line with the open access of other European payment systems such as STEP2 and RT1 (EBA Clearing) or TIPS (European Central Bank) and in response to the remarkable dynamism and technological transformation displayed by payment services in Europe following the entry into force of the latest Payment Services Directive, known as PSD2.

Since then, credit institutions that are direct members of the system have the option of designating "accessible entities", providing the opportunity to offer multiple and very valuable payment and technological services to non-bank fintech entities, such as payment entities, electronic money institutions, etc.

With this important milestone, the Spanish Payment System has strengthened its position as one of the most advanced, innovative and efficient payment systems in the European context, with a significant demand from fintech entities interested in joining the system in the forthcoming months to process their payment activity.