First French banks joins ECP Sepa Instant Payments Scheme

Source: EPC

BPCE, a major French cooperative banking group (which includes the Banque Populaire and Caisse d’Epargne networks), is the very first payment service provider in France to adhere to the Instant Credit Transfer (Inst) scheme.

Most BPCE banks will be ready to propose Inst-based services in April 2018.

This is an exciting news for this scheme launched in November 2017 and which enables the transfer of up to 15,000 euros in less than ten seconds, in a geographical area that will progressively span over 34 European countries.

EPC infographic on the benefits of the SEPA Instant Credit Transfer scheme
More than 1,000 from twelve countries have now adhered toInst

The threshold of 1,000 registered for Inst has now been passed. This represents twenty-five percent of all European . The 1,046 are located in twelve European countries:

Austria
Belgium
Bulgaria
Estonia
France
Germany
Italy
Latvia
Lithuania
Malta
the Netherlands
and Spain

Most of them already propose instant credit transfers to their customers. The already registered for Inst but for a later readiness date are Belgian, German and Lithuanian, on top of the French ones.
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