Banks in the euro zone would be required to provide ‘instant payments’ in the single currency 24/7 under draft European Union rules seen by Reuters.
There is already infrastructure in the euro area for instant payments (IP), but take up has been slow, with only 11% of euro credit transfers in the form of IP at the end of last year, the European Commission says in a draft instant payments law.
„Payment service providers (PSPs) that provide credit transfers in euro will be required to offer the service of sending and receiving IPs in euro. The requirement would cover 24 hours a day, 365 days a year,” the draft said.
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:
