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Instant Payments

EBPI Critical Payments Solutions offers SWIFTNET Instant connectivity for SEPA Instant Payments

EBPI Critical Payments Solutions will extend its SWIFT Service Bureau with the real time SWIFTNET Instant Gateway, enabling the exchange of Instant Payments messages. This is part of EBPI’s continued effort to support banks, enterprises and FinTechs to deliver and run payments services and market connectivity faster, for less but maintaining the highest security and operational standards.

SEPA Instant Payments: sending and receiving funds in seconds, 24/7

Many countries in Europe are implementing a new real-time Credit Transfer called SEPA Instant Payments. SEPA Instant Payments makes it possible for consumers, corporates, governments and merchants to pay and receive funds in mere seconds, 24/7. The first banks went live in November 2017 and their number is growing fast. In the Netherlands the major banks will go live in May 2019, initially for retail and SME customers, followed by enterprises at a later stage.

Adopting Instant Payments is very interesting, but can be a significant investment

SEPA Instant Payments will be the new normal and provides great opportunities for business improvements and innovation. Due to it being real-time, 24/7 and requiring processing adoptions, most providers and users will face a significant impact in upgrading their (batch-based) legacy systems.

This upgrade includes investing in new connectivity requirements to reach key market infrastructures, such as Clearing and Settlement Mechanisms and the European Central Bank (ECB).

Real-time 24/7 SWIFTNET connectivity

With SWIFTNET Instant, EBPI Critical Payments Solution offers European banks the needed real-time 24/7 connectivity to major European market infrastructures, such as the ECB Target Instant Payments System (TIPS) and EBA Clearing service RT1 for Instant Payments. This easy and efficient solution enables banks to increase their reach to the European market.

SWIFTNET Instant is the Instant Payments messaging service of SWIFT, which will be launched in Europe in November. Importantly this will coincide with the launch of the Pan-European real-time payments service, or TIPS, by the European Central Bank (ECB).

For banks wanting to use and connect to TIPS and EBA Clearing RT1, SWIFTNET Instant is an important option and efficient solution. As a fully compliant SWIFT Service Bureau, EBPI Critical Payments Solutions offers market connectivity as well as payments processing services to adopt to SEPA Instant Payments more easily and efficient, on-demand.

If you are interested to learn more about our services for the SWIFTNET Instant gateway please contact info@ebpi.nl.

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