Opportunities and challenges for the SEPA Instant Credit Transfer scheme

Javier Santamaría
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Javier Santamaría: Chair, European Payments Council, Belgium

Journal of Payments Strategy & Systems, 2017, vol. 11, issue 3, 195-196

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.

Keywords: instant payments; innovation; pan-European; clearing and settlement (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2017:v:11:i:3:p:195-196

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