Payac, the Credit Union owned payments provider has announced the appointment of Kira Magennis as its new Head of Sepa Payments. Kira was most recently PM for Payac’s Sepapay programme and oversaw the bulk migration of a large number of Credit Unions EFT business to the Sepapay program, resulting in a 50% reduction in transaction costs.

Before joining Payac, Kira was Head of Correspondent Banking with BNP Paribas Dublin branch. Kira has extensive experience in Corporate Banking and SEPA clearing services. She was previously a member of the Board of Directors of the Irish Retail Electronic Clearing Company under IPSO for EFT, and chaired the Federation of International Banking in Ireland Clearing Committee meetings for EFT. Commenting on Kira’s appointment, Seamus Newcombe, CEO of Payac stated that this appointment “demonstrates Payac’s commitment to further enhancing its Sepa payments programme for Credit Unions and to delivering new emerging payments such as instant payments. We are delighted to have someone of Kira’s experience and calibre heading up Sepapay at such an exciting time for the Credit Union sector, with significant growth with electronic payments, driven by consumer demand.” Kira commented that she was “thrilled to be heading up this important service, and to be growing the programme at a time when members are seeking access to faster payments, and Credit Unions are seeking more cost competitive payment services.”