Open banking platform Fabrick and provider of payment solutions Nets today announce that they have entered into a strategic partnership for creating products, services and new ecosystem business opportunities in the instant payments space.

Leveraging the strengths of their respective technologies and platforms, Fabrick and Nets aim to develop innovative solutions that deliver new revenue streams for new and existing clients, such as Slovenian payment processing company Bankart.

Paul Walvik-Joynt, SVP Payments International Business Development at Nets said:

“Our partnership with Fabrick creates new opportunities to leverage the benefits from instant payments and realise the value of our new OmniBilling platform. Today, we provide instant payment processing across Europe, and further broadening our array of services, adding to Fabrick’s state-of-the-art wallet solution, will boost our efforts to digitise societies and provide an easier tomorrow for our customers.”

Marco Casartelli, Deputy CEO of Fabrick, said:

“This is a compelling initiative for Fabrick. Instant Payments is an integral part of the trend towards a cashless society and it is an important space for us to operate in. Working together, Fabrick and Nets have proven that we deliver quality solutions for our clients and I expect this partnership to build on that record.”

Fabrick and Nets have previously cooperated with Bankart on the successful development and launch of Flik, the instant payment solution for Slovenia, which combined Fabrick’s award-winning wallet running on Nets’ Instant Payment solution.