The European Payments Council has released proposals for the design of a pan-European instant credit transfer scheme, with the aim of bringing real-time money transfers across the Sinlge Euro Payments Area (Sepa) by November 2017.
The Euro Retail Payments Board (ERPB), a group chaired by the European Central Bank that brings together associations of providers and users of payment services, has invited the European Payments Council, a body representing the payment service providers in Europe, to develop a scheme for instant payments in euro by November 2016 and to implement it by November 2017.
The scheme will be based on the Single Euro Payments Area (SEPA) credit transfer, and will be available for all payment service providers in Europe. Currently, a credit transfer can take a whole business day. Using the new scheme will speed up credit transfers between accounts to a matter of seconds – even when banks are closed.
“I welcome this joint effort by the industry to make instant payments a reality, bringing benefits to consumers and businesses alike”, said Yves Mersch, member of the ECB’s Executive Board and chair of the ERPB. “It is crucial that we adopt a pan-European approach.”
The scheme will lay the groundwork for innovative payment methods such as mobile person-to-person payments. Although the scheme will be voluntary, payment service providers that want to offer instant payments in euro based on SEPA credit transfers will be expected to adhere to it.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”