instant payments


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 in Europe: moving from theory to practice

We live in impatient times – everyone wants to be able to pay who they want when they want, instantly and regardless of location. The UK has had instant payments since 2008; Faster Payments volumes have exceeded all predictions and now exceed 135 million per month.

Real-time payments: forging path to the “new normal”

Escalating customer expectations, regulatory requirements and technological developments are fuelling the need for instant payments. Market providers agree that real-time payments will be the “new normal” and, it’s not a matter of if, it’s a matter of when.

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.

Payments: Australia gives Swift instant results

Off the back of its involvement in Australia’s New Payments Platform (NPP), Swift has entered the instant payments market in Europe, with plans to launch a gateway solution in November 2018. The solution will enable instant payments to be made over the Swift network using a single gateway to connect to multiple instant payments systems across Europe.

ACI Worldwide and Vocalink team up for real-time payments push

ACI Worldwide and Vocalink have joined forces “to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network”. The partnership will combine Vocalink’s Immediate Payments System (IPS) offering for central payment infrastructures and ACI’s UP Immediate Payments solution for banks and financial institutions.

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 […]

Instant Payments Framework launched by Icon Solutions

The new framework – available worldwide – is set to open up access to real-time payments for banks. UK-based Icon Solutions, an IT payment consultancy and specialist technology provider, describes its Instant Payments Framework (IPF) as “an agile yet robust software product that expedites financial institutions’ transition to instant payments”. The vendor emphasises that “IPF […]

Top fintech stories this week – 15 April 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! EPC launches public consultation on SEPA instant payments scheme You’ve got until 10th July to submit your views. What do corporates want from their banks? Simplicity, standardisaion and automation. New core banking system selection in the Netherlands Amsterdam Trade […]

What is your view on real-time payments? Take our survey and win an iPad!

Banking Technology is conducting a brief survey to find out the industry view on real-time payments and their implications for all parties involved. How ready are you? What are the key drivers for your organisation to embrace real-time payments? Will they displace the existing types of payments? And what are your main concerns when it […]