Smart Payment Association (SPA) has published proposals for an Instant Payment Card that would extend SEPA instant Credit Transfer functionality to consumers paying at POS terminals across Europe.
Under new proposals from SPA, real-time transfers could be made available to consumers in store using an Instant Payment Card or smartphone app in the same way as we would pay using the contact or contactless functionality on chip and PIN debit or credit cards.
Designed to illustrate the possibility of this new in-store way to pay, the proposals by SPA showcase an approach that complies with existing EMV standards and takes advantage of existing payment terminals already widely adopted and operating across Europe.
A more detailed synopsis and the full paper is available here.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.