Payment Service Providers ( ) can now apply for adherence to the Instant Credit Transfer ( Inst) scheme, which will become effective in November 2017.
The Inst scheme (published in November last year) will enable the transfer of initially up to 15,000 euro per single transaction in less than ten seconds, any time and any day, and in an international area that will progressively span over 34 European countries.
Payments will become increasingly faster, easier, and more accessible through the development of mobile and digital devices. The encourages all to rapidly board the instant payments train, and to adhere to the Inst scheme as soon as possible.
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