The first French banking group joins the SEPA Instant Credit Transfer ...

The first French banking group joins the SEPA Instant Credit Transfer scheme

16 January 18

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BPCE, a major French cooperative banking group (which includes the Banque Populaire and Caisse d’Epargne networks), is the very first payment service provider () in France to adhere to the Instant Credit Transfer ( Inst) scheme. Most BPCE banks will be ready to propose Inst-based services in April 2018.

This is an exciting news for this scheme launched in November 2017 and which enables the transfer of up to 15,000 euros in less than ten seconds, in a geographical area that will progressively span over 34 European countries.

EPC infographic on the benefits of the SEPA Instant Credit Transfer scheme

More than 1,000 from twelve countries have now adhered to Inst

The threshold of 1,000 registered for Inst has now been passed. This represents twenty-five percent of all European . The 1,046 are located in twelve European countries:

  • Austria
  • Belgium
  • Bulgaria
  • Estonia
  • France
  • Germany
  • Italy
  • Latvia
  • Lithuania
  • Malta
  • the Netherlands
  • and Spain

Most of them already propose instant credit transfers to their customers. The already registered for Inst but for a later readiness date are Belgian, German and Lithuanian, on top of the French ones.

How to register for Inst?

All from the 34 countries are encouraged to onboard the instant payments train. Our toolkit for new scheme participants will provide them all they need to know to register for the Inst scheme.

The next update of the Register of Participants is foreseen around mid-February. Stay tuned to discover the future participating !

 

 



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