Instant Payments


  1. Will payment costs increase as a consequence of the introduction of Instant Payments?

    Each individual Payment Service Provider will determine whether, and if so, what fee(s) they intend to charge for Instant Payments. This is outside the scope of the program.

  2. Will all Payment Service Providers / Banks in the Netherlands offer Instant Payments?

    Participation in the Instant Payments infrastructure is voluntary. The major banks in the Netherlands are actively participating in the development of the Instant Payments infrastructure and are committed to offer Instant Payments services to their customers as per the live date. The expectation is that in due time most of the Payment Service Providers will follow suit and offer Instant Payments to their customers.

  3. What are Instant Payments?

    Instant Payments are payments whereby the payment amount is credited immediately on the account of the beneficiary resulting in access to the funds for the beneficiary within seconds any time of the day (24/7), any day of the year (also on weekends and public holidays). Regardless of where the bank account is held.


  1. Is the scheduled implementation date still feasible?

    Yes, the program is on track for delivery by May 2019.

  2. Will all payments migrate to the Instant Payments infrastructure?

    Single Instant Payment transfers offered via mobile devices and internet banking will be first to be processed via the Instant Payments infrastructure. There are no other agreements in place. The uptake and use of the infrastructure is left to the market place. Instant Payments concern payments in euro within The Netherlands, and – to a lesser extent – cross border payments within the SEPA-area, only between those PSP’s which are participating.

  3. When will the Instant Payments Infrastructure be available?

    Interbank testing is expected to commence mid 2018, after which a joint pilot will start early 2019.
    As of 1 May 2019 the Instant Payments infrastructure will be broadly available to all and any Payments Service Providers wishing to offer Instant Payments in the Netherlands.


  1. How does this program relate to other European initiatives?

    Most of the Instant Payments initiatives within Europe identified so far aim to add an new payment type to the portfolio, predominantly servicing P2P segment. The Netherlands has however the ambition to introduce the Instant Payments infrastructure as the new standard for all (single) payments, regardless of amount or market segment. It is expected that all those SEPA banks/countries wishing to participate, will comply with or migrate to the EPC standard – similar to The Netherlands – thus enabling also cross-border Instant Payments in euro within the SEPA-zone.

  2. Is this new development aligned with the European developments?

    Most certainly. European compatibility has been a key starting point in the design of the new Instant Payments infrastructure. The development of Instant Payments takes place in full alignment with the developments in Europe as initiated by the European Central Bank (ECB) in accordance with the Euro Retail Payments Board (ERPB) – the local equivalent of the MOB (Maatschappelijk Overleg Betalingsverkeer).

    The Dutch Payments Association participates directly and actively in the development of the Instant Payments standard (Rulebook) within the European Payments Council (EPC).

  3. What about safety and reliability?

    Safety and reliability will and must comply to current standards as a prerequisite. The same level as applicable to current SEPA credit transfers, will be applicable for Instant Payments.

  4. Is the transaction speed (<5 seconds) technically achievable?

    Based on internal investigations and the (non-euro) market references from countries where Instant (or Realtime) Payments is already live, the conclusion is that the speed of 5 seconds is realistic and achievable.


  1. What activities are foreseen in the coming period?

    In the last quarter of 2016 the requirements as drafted by the Dutch program will be reviewed and amended based on the available European (EPC) SEPA Inst rulebook and implementation guidelines.
    The coming period will be marked by build of all infrastructure components, the design of supporting processing, and the preparations for the testing phase.

  2. What were the recent activities?

    So far the Dutch Payments Association, in close collaboration with the Dutch Central Bank (DNB), has worked out a more detailed design of the Instant Payments infrastructure both from a functional (customer) perspective as well as from a technical perspective (clearing and settlement). The design has – as work in progress – been on the agenda for discussion of a specifically installed stakeholders forum, and at the same time has been aligned with the European requirements as and when they became available.

    A market consultation among European processors and/or suppliers of payment systems and (parts of) the payment infrastructure was conducted early 2016. Its results have led to further adaptation of the program’s functional and technical specifications, which have been published (Requirements 2.0) and are available via

    Building has commenced as from the second half of 2016 and individual banks have started their selection process for a processor.

Customer Impact

  1. Will there be a maximum amount per payment?

    A precondition for the infrastructure has been that it should be able to support all payments types. The Netherlands community has therefore decided not to introduce any transactional amount limit within the infrastructure. For certain payment products or channels however a maximum amount can be applicable. Defining such a maximum will be up to the individual Payment Service Providers.

  2. Can I recall an Instant Payment?

    Similar to current practice, the Payment Service Provider decides on the conditions and criteria for the provided payment services, inclusive of whether a payment instruction can be cancelled or recalled. This will not change with the introduction of Instant Payments.

  3. What will happen with other payment products (besides Mobiel and Internet Payments)?

    If it is considered advantageous, other payment products can also be offered via the Instant Payment infrastructure. The infrastructure is designed to cater for volume and value. Whether this will indeed be the case, is a decision for each individual PSP participating, and is in the end up to the market.

  4. Will the payer get an instant confirmation that the beneficiary has indeed received the money?

    That depends. Such a confirmation is possible and for some payments also appropriate. But in other cases a confirmation may not be required. Every single Payment Service Provider decides – sometimes in alignment with its customers – if and how the confirmation will be passed on.

  5. What about the crediting of funds and the interest calculation?

    For payments processed via the Instant Payments infrastructure, there will no longer be a difference between a working and a non-working day. Processing takes place 24/7, all days of the year, as if it were a working day. Instant Payments will comply to all applicable terms and regulations which are currently in place and relevant (Payment Service Directive and any other legislation, rules and regulations).

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