Modulr becomes Chaps direct participant

Modulr has become a direct participant in CHAPS, the UK’s system for high-value, same-day payments. For retailers and operators, this upgrade is about speed and reliability in the movement of large sums of money. By settling directly at the Bank of England rather than relying on an intermediary bank, Modulr removes a layer of technical complexity and potential delay. If your business handles high-ticket sales or relies on fast fund disbursement—such as automotive down payments, large home improvement deposits, or jewelry purchases—this infrastructure change matters. It means faster access to capital and more reliable settlement for high-value transactions. In an industry where cash flow is king, reducing the time it takes for a large payment to move from a customer or lender to your business account is a competitive advantage. This move also signals that fintech providers are increasingly gaining the same heavy-duty payment powers as traditional Tier-1 banks, offering merchants more robust alternatives for enterprise-level payment processing.

Source: Finextra

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