US banking giant JP Morgan is boosting its real-time payments offering by launching Sepa Instant in Europe.
The move rounds out JP Morgan's real-time payment capabilities in USD, GBP and EUR and is "another step towards offering real-time payments around the globe," says Sungmahn Seo, MD, head of Emea payments and FX for JP Morgan Treasury Services.
As it touts its leadership in the area, the bank says that clients benefit from immediate payment finality, easier reconciliation, better budgeting and improved liquidity management.
Art Brieske, MD, head of faster payments, JP Morgan Treasury Services, says: "As we create new opportunities and efficiencies for our clients via Sepa Instant and other real-time payment schemes we expect the take-up for real- time payments will grow exponentially."
Editorial | what does this mean?