In this Blog, Anthony Richter, Chair of the Ad Hoc Task Force on Instant Payments, and Jean-Yves Jacquelin, Chair of the Instant Scheme Rulebook Development Task Force, explain how the kept flexibility and transparency front of mind, when designing the Instant Credit Transfer ( Inst) scheme.
The public consultation of the Inst scheme, open to all stakeholders, is running until 10 July. The proposed scheme is the first in the world to be interoperable in a region as large as and is a response to European customer needs for faster payments. It will be a turning point in making pan-European instant credit transfers in euro a reality.
Two examples of how important parameters of the scheme (i.e. the maximum amount and the duration of an Inst transaction) benefit from a certain flexibility are elaborated on in this Blog. This flexibility contributes to foster innovation and to accommodate diverse needs.
In addition, Anthony Richter and Jean-Yves Jacquelin also describe how the involved its various stakeholders when building the scheme, and will continue to maintain the dialogue with them in the coming months.
Click here to read the Blog.
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