Transition from third-party account to payment service provider
Until 2024, all payments for funded projects were made through the trust account of our permanent notary. For many years, this method provided the necessary security for all parties involved and proved to be reliable. With the switch to OPP, money flows for new projects are now managed differently. Although this is mainly an administrative adjustment, the new approach also offers several advantages.
What is changing in cash flows?
Notary involvement will be maintained in our new system. Outgoing payments will still go through the notary, but now bundled and sent as a single amount through the payment service provider to the project owner or other beneficiaries. This means that while the core process will remain the same, the way payments are processed will change. For investors, this means that they will now have to deal with a payment system through OPP, with no noticeable change in experience.
One important change is the way interest payments and redemptions are handled. Whereas previously each payment went through the trust account, in the new system these payments can be transferred directly to investors through OPP. This makes it possible to handle interest payments and redemptions faster, although this also continues to depend on the specific conditions of the project, such as the presence of an interest deposit.
What does this mean for investors?
For investors, the security and reliability of money flows remains guaranteed despite the transition to a payment service provider. OPP also offers several advantages, such as the optional ability to bundle interest payments for multiple projects, making administrative processing more efficient. While core processes and notary involvement will be maintained, this new way of working offers opportunities to further improve our administrative processes.
We remain committed to continuously evaluate and optimise our services to continue to meet our investors' expectations and ensure the safety and efficiency of our cash flows.