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Commercial Card News Brought to You by the NAPCP: Industry Regulation

The European Payments Council | A New ERA in Payments

Wednesday, November 30, 2016   (0 Comments)
Posted by: Katie Beatty

 

On 30 November 2016, the European Payments Council (EPA) published the rulebook of the SEPA Instant Credit Transfer (SCT Inst) scheme. The SCT will allow the transfer of up to 15,000 euro per single transaction in less than ten seconds in an international area that will span over 34 European countries. 

Payment Service Providers (PSPs) will have one year to get ready in order to process the first SCT Inst in November of 2017. The scheme is optional and therefore the number of PSPs that adhere will determine the success. 

Click here for the EMEA Homepage!

A New ERA in Payments | Launch of the SEPA Instant Credit Transfer scheme infographic.

For more information, please click here.


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