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Consultation launched on European instant payment scheme

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On 12 April, the European Payments Council (EPC) launched a public consultation on the rules and guidelines for the SEPA Instant Credit Transfer scheme (SCT Inst). Under the SCT Inst scheme, euro payments between IBAN accounts in different SEPA countries would eventually be transferred within seconds.

The EPC invited all stakeholders, including payment service providers, technology companies and end users, to request the documentation and take part in the consultation over the following three months. This would help the EPC ensure that the SCT Inst scheme met market needs.

Read the full EPC announcement .

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