Share these talks and lectures with your colleaguesInvite colleagues
Developments in fast payments in the Single Euro Payments Area
The European Payments Council introduced the SCT Inst scheme to benefit end users by enabling real-time euro payments between payment service providers (PSPs) throughout the Single Euro Payments Area. The rapid development of the scheme during its first four years is testament to the collective vision and work of European PSPs in support of real-time payments. This paper explores the SCT Inst scheme’s significant progress, in addition to related developments and challenges in the field of payments. The paper finds that a critical mass of SCT Inst scheme participants and reachable payment accounts is forming in the euro area through a natural, market-based process in response to the benefits of the scheme for end users and PSPs.
The full article is available to institutions that have subscribed to the journal.
Javier Santamaría is Chair of the European Payments Council and of the Iberpay Board. He was Senior Vice President at Banco Santander until December 2016, having formerly served as Head of Operations and Business Services. He was also a member of the Board of the Euro Banking Association and a Director of the SWIFT Board until the end of 2016.