12 September 19
On 10 September 2019, the EPC Scheme Management Board (SMB) – the body responsible for the administration and evolution of the EPC Single Euro Payments Area (SEPA) payment schemes, decided to amend the maximum amount per SEPA Instant Credit Transfer (SCT Inst) transaction to 100,000 euros, effective...
SEPA INSTANT CREDIT TRANSFER SCHEME
0 payment service providers
have already joined the scheme:
0% of European PSPs.
ESTIMATED SHARE OF SCT INST VOLUMES IN
TOTAL CT* VOLUMES
We harmonisepayments 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.
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.
News and Insights
03 September 19
*The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. This article is one of an occasional series updating the European Payments Council (EPC) community on developments in e-invoicing, an important adjacent space to the world...
02 September 19
On 7 March 2019, the EPC published its decision paper on Brexit and United Kingdom (UK) payment service providers’ (PSPs) participation in the EPC Single Euro Payments Area (SEPA) payment schemes. The EPC Board approved the application from UK Finance for the continued participation of UK PSPs in the...
28 August 19
Extension of public consultation on draft Mobile Initiated SEPA Credit Transfer Interoperability Implementation Guidelines (including SCT Inst) till 16 September 2019
Developed by the ad-hoc multi-stakeholder group (MSG) on Mobile Initiated SEPA Credit Transfers (MSCT), including SEPA Instant Credit transfers (SCT Inst) (MSG MSCT), the draft MSCT Interoperability Implementation Guidelines (IIGs) (including SCT Inst) were subject to a public consultation which is now...