As faster payments schemes take shape around the globe — in the U.S., the FedNow® Service is the latest example — realizing the full potential of speed and lower costs demands interoperability. Regulations and frameworks are still emerging, and there are a number of private...
Belgium was not one of the early adopters of the EU’s SEPA Instant Credit Transfer (also referred to as SEPA Instant or SCT Inst) real-time payments scheme, joining the platform nearly two years after it was introduced in November 2017. Since then, customers and businesses...
The Single Euro Payments Area (SEPA) is an EU-led initiative intended to harmonize the way cashless euro payments are made across Europe. Every European Union country and several non-EU countries are a part of SEPA. The basic premise of SEPA — that euro payments between...
The European Payments Council (EPC), a nonprofit organization representing payment service providers (PSPs) that promotes the development of the Single Euro Payments Area (SEPA), has launched a consultation to expand the scope of SEPA payments beyond the Euro area. The Single Euro Payments Area (SEPA)...
August 31, 2021
Agnostic is a word that European Payments Council (EPC) Director General Etienne Goosse often uses to describe the mandate of the payments association that counts 2,343 payments services providers, representing about 59% of all EU payment service providers (PSPs), as members. It is also why he pushes back against repeated calls to regulate adherence to […]
April 19, 2021
It’s not an easy task to get the European Union to speak in a single voice for anything. With 27 member states in motion and the U.K. on its way...
December 03, 2018
Last year, the European Payments Council (EPC) debuted the SEPA Instant Credit Transfer scheme, where credit transfers are done in 10 seconds — or less — across SEPA. Javier Santamaria, EPC...
April 30, 2021
The European Payments Council (EPC) wants to hear from service providers with the expertise to oversee a multi-nation alarm system designed to cut down on payments fraud. The council this week issued a request for proposals seeking an outsourced provider for a new malware information sharing system for the Single Euro Payments Area, otherwise known […]
December 16, 2019
EBA CLEARING is launching a request to pay (R2P) solution in Europe and created specifications with the input of 27 financial institutions from 11 countries, EBA announced in a press...
June 27, 2019
In light of competition from Facebook and other tech firms and banking firms, the European Union could potentially have a real-time payments system in place by 2020, according to a...
November 22, 2017
The European Payments Council has announced the launch of its Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst), which enables nearly 600 payment service providers from eight European...
