EBA Clearing announced that around 40 institutions operating across the Single European Payments Area (SEPA) will support EBA’s development of a pan-European instant payment platform. Those providing funding to the development and eventual implementation of the platform, will influence how the system is designed. 

What this means for you

The EBA Clearing solution will enable payment service providers across Europe to use this real-time payment processing facility for any payment product that complies with the instant payment scheme being developed by the European Payments Council.  The service is scheduled to be launched in 2017.