|
|
November 2017 marked a major event in an increasingly instant world: the launch of the Single Euro Payments Area ( ) Instant Credit Transfer ( ), which enables credit transfers in ten seconds – or less – across the . Two and a half years on, the scheme has grown significantly, and the European Payments Council ( ) would like to shed some light on its progress since the launch, its critical success factors, remaining challenges and further goals. The also invites those European payment service providers ( ) that have not yet adhered to the scheme to rapidly join it for the benefit of their customers and to help achieve the broadest coverage as soon as possible.
Since its launch, the scheme has kept on growing, and the latest Register of Scheme Participants, published in May 2020, reveals that the scheme now includes 2,263 (fifty-six percent of the total) from 22 countries in Europe. These numbers will continue to grow over the coming year.
The countries with the largest numbers of registered are currently Germany (1,284), Austria (452), Italy (194) and France (128). The scheme’s potential resides in its reachability, which is actually higher than the figures above show: the fifty-six percent of European includes those who achieve the most significant payment volumes in their countries.
The progress made since the end of 2017 is even more impressive when only the euro area is taken into consideration: close to two-thirds of eurozone have adhered to the scheme, and in eleven euro countries1 a vast majority of payment accounts can be used to send and receive transactions. ...
The latest performance indicators are extremely positive: over ninety-nine percent of transactions are completed in less than five seconds, R-transaction2 rates have dramatically decreased – especially for intra-country transactions – and no significant fraud issue has been reported.
more at EPC