The Real-Time Payments World Map

The Ten Second Rule: EU Mandates Instant Payments Availability 

Real-time payments in the EU are on the verge of achieving their instantaneous promise, with a new rule from the European Council requiring instant fund transfers  to be available within 10 seconds. In this edition of the “Real-Time Payments World Map,” a collaboration with The Clearing House, PYMNTS explores this development along with other advancements unfolding across the global real-time payments landscape.

Inside the March World Map
  • The European Council adopted a new rule to enable instant payments across the European Union and European Economic Area, requiring all instant credit transfers to arrive in recipients’ accounts within 10 seconds.
  • Abu Dhabi Islamic Bank recently announced the launch of a new real-time payments hub to facilitate and streamline cross-border transactions.
  • The National Payments Corporation of India has unveiled an initiative to establish a real-time payment link between India and the United States to enable small transactions between the two countries.

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