EPC: 25% of all European Payment Service Providers have now adhered to SEPA Instant Credit Transfer scheme
BPCE, a major French cooperative banking group (which includes the Banque Populaire and Caisse d’Epargne networks), is the very first payment service provider (PSP) in France to adhere to the SEPA Instant Credit Transfer (SCT Inst) scheme. Most BPCE banks will be ready to propose SCT Inst-based services in April 2018.
„This is an exciting news for this EPC 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.
More than 1,000 PSPs from twelve countries have now adhered to SCT Inst. The threshold of 1,000 PSPs registered for SCT Inst has now been passed. This represents twenty-five percent of all European PSPs.
The 1,046 PSPs 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 SEPA instant credit transfers to their customers. The PSPs already registered for SCT Inst but for a later readiness date are Belgian, German and Lithuanian, on top of the French ones.
How to register for SEPA Inst?
All PSPs from the 34 SEPA 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 SCT Inst scheme.
„The next update of the Register of Participants is foreseen around mid-February. Stay tuned to discover the future participating” EPC says.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
