EBA Clearing begins testing instant payments system

EBA Clearing begins testing instant payments system

EBA Clearing has begun the testing phase for its pan-European instant payment infrastructure platform ahead of a slated November launch.

The new platform is planned to be in line with ISO 20022 messaging standards and fully compliant with the SCTInst Scheme that is currently being created by the European Payments Council. Operating around the clock, it will be available to payment service providers across the EU.

EBA Clearing says the platform is on track to go live on the launch date of the SCTInst Scheme launch date in November. To prove the point, the bank-owned outfit invited 28 of the funding institutions to Milan to mark the start of the testing phase with a demonstration of the functioning of the new system run by technology partner SIA.

Hays Littlejohn, CEO, EBA Clearing, says: "We now look forward to engaging the growing community of early movers and their trusted service providers in the pilot user tests that will follow our acceptance testing with SIA. The system will be open to any AS-PSP adhering to the EPC Scheme. We will offer different options to interact with the system in order to ensure that any type of user from anywhere in Europe can access the platform."

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