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First testing results on Pan-European instant payment solution

Friday 14 April 2017 | 02:15 PM CET

Intesa Sanpaolo and EBA CLEARING have announced the first testing results for the first pan-European instant payment solution.

The new payment infrastructure will provide a real-time payment-processing engine working around the clock on any day of the year. Starting from November 2017, account-servicing payment service providers (AS-PSPs) from all over SEPA will be able to use this highly flexible solution for payment products in euro that are fully compliant with the European Payments Council’s SCT Inst Scheme and in line with the ISO 20022 global messaging standards for real-time payments.

EBA CLEARING is a provider of pan-European payment infrastructure solutions. EBA CLEARING manages two Systemically Important Payment Systems, the large-value euro payment system EURO1 and STEP2, a pan-European payment infrastructure platform for mass payments in euro, which provides full reach to all financial institutions across Europe processing credit transfers and direct debits in euro.

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