Lightyear and LHV partner for instant Euro payments

European investment platform Lightyear is partnering with LHV to power real-time Euro payments.

Founded by two former Wise employees, Martin Sokk and Mihkel Aamer, Lightyear says its aim is to bring seamless, low-cost access to global markets to everyone in Europe.

Now with the help of banking services provider LHV, which processes seven per cent of the total Single Euro Payments Area (SEPA) instant transactions in Europe, Lightyear can give customers access to real-time Euro payments, among other banking services.

The scheme processes payments in seconds, at any time, and with it, LHV aims to be a “one-stop shop” for its fintech customers’ banking needs.

“LHV is partnering with fintechs to innovate and build a better financial system for customers in Estonia and now across Europe,” CTO Aamer said. 

“We share a similar approach to providing best-in-class customer experience — when it comes to payments and people’s money, it’s key to eliminate unnecessary delays & slow processing times.”

In addition to SEPA and SEPA instant payments, LHV will offer the fintech stock trading app safeguarding accounts, separating client funds from the company’s.

According to Lightyear,LHV will also provide EU operational accounts, designed to hold businesses’ operating funds, international SWIFT and payments in EEA currencies alongside virtual IBANs

“Lightyear is democratising access investing to retail traders,” LHV UK deputy CEO Andres Kitter said.

“By utilising Lightyear’s commission-free investment platform, investors can bypass the traditional banks and web platforms, which charge high fees for stock trading.”