Instant Payment is evolving. There are European solutions such as RT1 from EBA Clearing or TIPS from the Eurosystem (of ECB decision communicated in June), and local flavours (Spain). Whilst most of the solutions are compliant with EPC’s SCT Inst they are not interoperable, and, none of them can at this point claim to provide full reach. The systems will not go live on the same date. How does this impact banks? Multiple membership, liquidity (funding), value date of payments during the weekend – there are lots of questions not yet settled.
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