Europe is a little bit closer to creating a true standard for real-time payments
In late November, the European Payments Council (EPC) launched the Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) platform. It will enable corporates and individuals to make instant euro credit transfers, initially up to €15,000, between accounts across the 34 SEPA countries in 10 seconds, any day of the year. This process currently can take up to a full day.
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