The Rise of Instant Payments: How to address challenges and opportunities in the Eurozone

organized on 23 May 2023 | 16:00 CET


In this panel discussion, FIS, The Payments Association EU, and Capgemini address the current state of maturity and deployment of instant payments in Europe and the specific space of SCT Inst. We will explore the choices banks need to make to be ready for SCT Inst and the potential impact on their operations.


The European Commission proposed legislation to make instant payments in euro available, affordable and secure for all citizens and businesses holding a bank account in the EU and in EEA countries. When this legislation will be approved banks need to be ready to receive Instant Payments six months after the legislation is passed and be able to send Instant Payments a year after ratification.


Experts will discuss the specific space of SCT Inst, but also challenges and opportunities presented by the advent of instant payments as well as the necessary steps to navigate this transformative shift in the payments landscape. Furthermore, we will discuss the recently launched 1.0 version of the One-leg out Instant Credit scheme (OCT inst).

 

Agenda

  • What is the current footprint instant payments' impact in Europe?
  • What are the benefits of adoption of SCTInst (e.g talking about SCT being the backbone of A2A payment innovation, e.g. initiatives such as SPAA and EPI, being able to offer OCT Inst)
  • How will mandatory adoption of SCTinst impact banks?
  • What should banks prepare for regarding their payment systems (stack)?
  • What are the challenges associated with SCTinst implementation?
  • Can SCT and SCTinst coexist, and should they?
  • Is their infrastructure capable of handling 24/7 operations on all fronts?

 

Keywords: SCT, instant payments, Payments Europe, online banking
Categories: Banking & Fintech
Companies: FIS, The Payments Association EU
Countries: World
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FIS

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The Payments Association EU

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