The funding institutions will be involved in shaping the system design, functionality and interface specifications. The future infrastructure service is scheduled to be live in the Q4 2017.
The EBA CLEARING solution will provide a real-time payment processing facility, which will be available permanently. Payment service providers from all over Europe will be able to use this solution for any payment product that complies with the instant payment scheme being developed by the European Payments Council.
The future infrastructure service by EBA CLEARING is planned to be in line with the global messaging standards for instant payments (ISO 20022) and to be fully compliant with the SCTInst Scheme that is currently being created by the European Payments Council.
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