Instant payments – Impacts of the new normal
The session will look at the evolution and convergence of payment instruments in the SEPA driven by regulation, competition and market demand, now possible through evolving technologies. Instant Payments positions itself as the new normal for account based payments. Its emergence will impact existing payments means, potentially replacing some of them and at the same time offering the means for delivering new and innovative services. Traditional clearing infrastructures also need to meet the challenge of transition from batch, non-urgent clearing cycles to real-time clearing in milliseconds; this may lead to a certain level of infrastructure convergence.