Stakeholders interested in shaping the future of instant credit transfers in Europe are invited to participate in the public consultation on the Single Euro Payments Area () Instant Credit Transfer ( Inst) scheme. This consultation, organised by the European Payments Council (), will end on 10 July.
The proposed scheme states that the funds (initially up to 15,000 euro per transaction) will be available on the account of the payee within ten seconds, on a 24/7/365 basis, irrespective of whether the transaction is made between two accounts in the same country or in two separate countries.
The looks forward to the participation of all payment service providers, technical players and end users in the public consultation of this project, which will be the first of its kind in a region as large as .
The time has never been better to adhere to an effective euro instant payment scheme as several European Union countries at the forefront of payment technologies have already launched their own solutions. A pan-European, interoperable scheme will avoid fragmentation and encourage the harmonisation of euro payments across the continent.
Visit this page to learn more about the proposed scheme and the process to submit comments.
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