Stet processes more than 15 billion transactions per year on behalf of the French and Belgian banking communities, finextra reports. The company says it is currently working on the creation of an instant payments platform for instruments in the Single Euro Payment Area (Sepa). Stet says the platform will be offered initially to the French banking community as an early adopter but will be open to any PSP or PSP community all over Europe, the source cites.
It is compliant with the SCTinst scheme standards defined by the European central Banks retail payments systems board. Moreover, Stet says the technical infrastructure will also be offered on a white label basis to European communities wishing to retain a local governance.
The move comes after EBA Clearing issued a Request for Proposal (RFP) for the delivery of a pan-European instant payment infrastructure by end of 2017. EBA Clearing is looking to develop a pan-European service for instant payments in the clearing and settlement layer to payment service providers (PSPs) by 2018, after a pilot phase in 2017.
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