EBA Clearing announced today that its pan-European instant payment system RT1 successfully connected six new participants yesterday (see end of document for the full list of the new participants). The new joiners brought the total number of RT1 participants to 28 and expanded the reach of the system from around 600 to over 1,000 addressable […]
Payments Canada is implementing a new credit risk model for the country’s retail payment system, effective 12 March 2018.
The European Payments Council (EPC) has announced the launch of the public consultation on the 2018 change requests for the Single Euro Payments Area (SEPA) Credit Transfer and SEPA Direct Debit rulebooks. These documents detail the change requests from stakeholder representatives, banking communities and EPC Working and Support Groups. Furthermore, they include the recommendations of […]
The New Payment System Operator (NPSO), which is taking charge of all the UK’s retail payment systems including its Faster Payment Service that is undergoing a technology overhaul, has appointed Matthew Hunt its new Chief Operating Officer.
EBA Clearing’s SCT Inst-compliant instant payment system RT1 has processed more than half a million transactions in Europe, worth EUR300m, with 95% of them taking three seconds to clear.
The new payment platform (NPP) in Australia has officially launched today to the public, enabling businesses and consumers to transfer money instantly between banks in real-time on a 24×7 basis.
The way Canadian business process payments costs them $2.9 billion to $6.5bn in unnecessary costs every year, according to a new study by Payments Canada and EY Canada, that advocates the former’s modernisation plan.
Nets will deliver the instant payments (IP) solution to Hungary after winning a contract from the operators Giro Zrt following a competitive tender process.
05 December 2017
All banks operating in Estonia should introduce instant payments (IP) within a year, said central banker Madis Müller, the Bank of Estonia’s (Eesti Pank) deputy governor.
21 November 2017
EBA Clearing’s instant payment RT1 platform is live today on 21 November in-line with the launch of the SEPA Instant Credit Transfer (SCT Inst) scheme that is designed by the EPC to offer euro transfer capabilities across 34 single euro payment area (SEPA) countries in less than 10 seconds.
21 November 2017
The single euro payments area (SEPA) instant credit transfer (SCT Inst) scheme, developed by the European Payments Council, is ‘live’ today with the EPC claiming almost 600 payment service providers (PSPs) across Europe are already offering euro instant payments on the framework.
14 November 2017
The first new payment and clearing infrastructure in the US in more than 40 years is operational. The Clearing House (TCH) launched its real-time payments (RTP) system late yesterday evening when $3.50 was moved between two different banks in three seconds.