myPOS Europe Ltd, the card payments provider to small and medium-sized businesses, has said its customers can now access Faster Payments in an effort to provide ever quicker and better money transfers.

This means merchants who use the myPOS service can send and receive GBP payments almost immediately.

Instant settlement has always been of utmost importance for myPOS, which guarantees immediate payment to the merchant’s account within seconds from a received payment through its various payment channels.

myPOS is also in the SEPA Instant Payment scheme, which creates a pan-European payment structure enabling businesses and individuals to send and receive Euro payments within 10 seconds across 34 European markets.

The company also recently announced it has partnered with iDEAL, a Dutch payment solution which allows customers to pay for items and services by directly linking their bank account, circumventing the need for inputting credit card information.

As long as the customer has a bank account with a bank partnered with iDEAL, all they need to do is log in with their online banking details which automatically completes the transaction in the environment of the bank itself. This ensures reduced security risk and is also much quicker and convenient than having to enter credit card details by hand.

This new development is a big part of myPOS CEO Christo Georgiev’s plan for the future of the company. “The goal of myPOS is to provide an all-in-one solution for small and medium businesses, for both their physical and online storefronts,” he said.

“As such we will continue to work hard and add new features on both fronts, to benefit both our clients and their customers.”