The Single Euro Payments Area (SEPA) has historically been a method of transferring payments between countries that use the Euro. Now it’s attempting to evolve with a new initiative called ‘instant payments’.
As the name implies, it’s a way of transferring funds almost immediately. This kind of feature isn’t widely available today, but is it poised to take off?
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The Single Euro Payments Area (SEPA) has historically been a method of transferring payments between countries that use the Euro. Now it’s attempting to evolve with a new initiative called ‘instant payments’.
As the name implies, it’s a way of transferring funds almost immediately. This kind of feature isn’t widely available today, but is it poised to take off?
Payment Transaction Changes causing Banks to Re-examine their Technology
FinTech Podcast by IR
6 minutes 12 seconds
8 years ago
Payment Transaction Changes causing Banks to Re-examine their Technology
In the next two years, new rules are taking effect that will change the way payments are handled. If you’re paying a bill or transferring money from one bank account to another, it typically takes three days until the transaction is finalized. After the new changes take effect, it will take a matter of seconds. It’s a huge change, and it means that banks are going to have to re-examine their technology to make accommodations.
FinTech Podcast by IR
The Single Euro Payments Area (SEPA) has historically been a method of transferring payments between countries that use the Euro. Now it’s attempting to evolve with a new initiative called ‘instant payments’.
As the name implies, it’s a way of transferring funds almost immediately. This kind of feature isn’t widely available today, but is it poised to take off?
