12 July 18
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is starting tests of their messaging services that transport SEPA Instant Credit Transfer (SCT Inst) to all Payments Service Providers (PSPs) that choose to offer SWIFT connectivity. In this interview, Carlo Palmers discussed the various...
We harmonise payments in Europe
We help make it possible for citizens and businesses to pay with the same ease and convenience across the Single Euro Payments Area
() as in their home country. We design and manage the payment schemes, which are the rules underlying most of the euro credit transfers and direct debits in Europe. We represent payment service providers () on all European payment issues and contribute to shaping the future European payments landscape.
We maintain the schemes and make them evolve in dialogue with our stakeholders.
We strive for a better harmonisation of other innovative electronic payment instruments, like card and mobile payments.
We define positions and make proposals on payment aspects of European policies and legislations.
billion electronic payments per year
(Single Euro Payments Area) is a European Union payments integration initiative to harmonise electronic euro payments in Europe. Thanks to this project, citizens and companies can use the same payment instruments – in particular, credit transfers, direct debits and cards – when making euro transactions across Europe as when paying in euros in their home country. The supports and promotes , which is driven by European institutions.
Get ready for the Instant Credit Transfer scheme
The Instant Credit Transfer ( Inst) scheme is effective since November 2017; it will significantly change payments as we know them.
How to participate?
All are encouraged to adhere rapidly to the Inst scheme via the website as receivers of transactions and / or payers in order to give it momentum and meet customer needs.
SEPA INSTANT CREDIT TRANSFER SCHEME
Already 0 payment service
providers have joined the scheme,
i.e. 0% of European PSPs.
News and Insights
10 July 18
Explore more about the global market trends, payments industry, real-time payments and open banking challenges in a selection of recent and free reports that we have gathered during the second quarter of 2018. The views expressed in the below reports are solely those of the authors and should not...
02 July 18
Launched in June 2017, the EPC monthly digest called Rep(l)ay provides you with a selection of the latest articles, infographics and documents published on our website. To identify the areas of improvement, we have created a survey that should not take more than three to five minutes of your time. Your...
28 June 18
The EPC publishes the version 1.2 for the 2017 SEPA Credit Transfer (SCT) rulebook which is effective as from 28 June 2018. This rulebook version specifies in sections 5.7 and 5.8 that each SCT scheme participant is required to comply with the applicable provisions issued in relation to risk management....