On 28 November 2023 at 08:00 CET, the European Payments Council (EPC) launched the One-Leg Out Instant Credit Transfer (OCT Inst) scheme.
The Questions and Answers document below gives background information about the EPC’s drivers for launching the international instant payment scheme, the main features of the scheme, and the benefits of this scheme for payers, payees and payment service providers (PSPs) in Europe.