EBA Clearing has completed a successful migration of the RT1 technical account from TARGET2 to the TARGET Instant Payment Settlement
EBA Clearing, SWIFT and TCH have completed a proof of concept as part of a new initiative to make cross-border payments as seamless as the fastest domestic payment options
The partnership will allow the banking and financial communities to send and receive payments in 10 seconds or less for a maximum amount currently set at €100,000 per individual transaction
Payment service providers and other service providers adhering to this new SEPA scheme may now exchange SRTP messages end to end, in split seconds and across Europe
The pan-European instant payment infrastructure system now counts six participants based in Belgium: Aion SA, BNP Paribas Fortis, Belfius, CBC Banque, ING Belgium and KBC Bank
EBA Clearing’s RT1 platform has expanded its reach in Luxembourg with five new joiners including Banque et Caisse d’Epargne de l’Etat, Luxembourg and Banque Internationale à Luxembourg
SIA said they are ready to enable banks, corporates, public administration bodies and fintechs for the new service ‘Request to Pay’
A pan-European request to pay approach is seen as the missing piece of the puzzle for market players to create innovative payment products and services for their customers, EBA says
Although there are complications, Brexit is yet to slow the growth of Paris’s asset servicing and technological innovation
