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Opportunities and challenges for the SEPA Instant Credit Transfer scheme

Author

Listed:
  • Santamaría, Javier

    (Chair, European Payments Council, Belgium)

Abstract

The SEPA Instant Credit Transfer scheme created by the European Payments Council and published in November 2016 came into force in November 2017. The scheme entails an innovative, fast and convenient method of payment for an international area that will ultimately encompass over 34 European countries. However, it also brings its share of challenges for payment service providers. This paper highlights the opportunities and difficulties raised by the scheme, and encourages all payment service providers to adhere to it as soon as possible. With the support of the European payment community, the SEPA Instant Credit Transfer scheme can be a success and profoundly change payments as we know them.

Suggested Citation

  • Santamaría, Javier, 2017. "Opportunities and challenges for the SEPA Instant Credit Transfer scheme," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 11(3), pages 195-196, November.
    • Handle: RePEc:aza:jpss00:y:2017:v:11:i:3:p:195-196
    as

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    More about this item

    Keywords

    instant payments; innovation; pan-European; clearing and settlement;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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