The community of financial institutions preparing to join the future service in 2017 or 2018 has nearly doubled since EBA CLEARING formally kicked off of the development project in April 2016 with 39 underwriting banks.
Five months after the start of the development project and less than two months after the publication of the draft specifications for its instant payment service, the community of interested PSPs has already grown to close to 80 institutions.
EBA CLEARING is now working on delivering the system and ensuring its specifications are aligned with the forthcoming final version of the EPC SCT Inst Scheme Rulebook, so that both the system and its users will be ready for the testing phases during the H1 of 2017.
EBA CLEARING’s new infrastructure platform will provide a real-time payment processing facility, which will be available around the clock on any day of the year. PSPs from all over Europe will be able to use this solution for any payment product that will be fully compliant with the instant payment scheme of the European Payments Council and in line with the global messaging standards for instant payments (ISO 20022).
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