EBA CLEARING announced on Wednesday (Sept. 21) it continues to register a strong growth rate in the number of payment service providers (PSPs) confirming their interest in its pan-European instant payment service, which is on schedule to be delivered in Nov. 2017.
In a press release, the company said the financial institutions that are gearing up to join the future service in 2017 and 2018 have close to doubled since EBA CLEARING announced the development project in April. At the time of the announcement, there were 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 our instant payment service, we are happy to see that the community of interested PSPs has already grown to close to 80 institutions,” said Hays Littlejohn, CEO of EBA CLEARING, in the press release. “This growing support from PSPs, as well as software houses, confirms the strong interest in a pan-European solution for the clearing of real-time payment transactions in euro. We are now working on delivering the system and ensuring our 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 first half of 2017.”
According to the company, the 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 across Europe will be able to use this service 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.
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