SCT Inst


European Payments Council’s SEPA Instant Credit Transfer scheme goes live

The Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme created by the European Payments Council (EPC) is now operational. As of today (21 November), the EPC says nearly 600 payment service providers (PSPs) from eight European countries are offering instant payment solutions based on SCT Inst. It was launched last year, with […]

Instant payments in Europe: a recipe for success

There is intense interest in instant payments (IP) throughout Europe. Domestic schemes are already live in the UK, Denmark, Poland and Sweden. The success of these schemes shows what’s possible but also teaches many lessons.

Instant payments momentum gathers pace globally as Swift strengthens its role

Instant payments are set to be one of this year’s hot topics at Sibos. Last week, Swift and EBA Clearing announced that users of EBA’s instant payments system, RT1, will be able to access the platform via SwiftNet Instant, Swift’s instant payments messaging solution, from November 2018. Elsewhere, Australian consumers have been told they will be able to make instant payments from January next year.

European Payments Council launches SEPA Instant Credit Transfer scheme

The European Payments Council (EPC) has unveiled its Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme. European payment service providers (PSPs) now have one year to get ready to process the first SCT Inst transactions in November 2017. Javier Santamaría, chair of the EPC, says the launch is a “new era in […]

SEPA: lighting the blue touch paper

The single euro payments area is up and running and has proved to be a catalyst for change in the payments industry. We look at the story so far.

EBA Clearing unveils specifications for new pan-European instant payment solution

EBA Clearing, a provider of payment infrastructure solutions owned by 53 major banks in Europe, has published the specifications for its future pan-European real-time payments solution. The new solution is set to go live in November 2017. It will comply with the SCT Inst Scheme of the European Payments Council (EPC). The document, which can […]