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EBA Clearing starts instant payments testing phase

EBA Clearing has launched the testing phase of its pan-European instant payments platform. An event in Milan, attended by 28 institutions involved in the scheme, kicked things off with a live demonstration of the system in action.

“The timely delivery of our instant payment system in the test environment is a key milestone on our journey towards the go-live of the service in November 2017,” says Hays Littlejohn, CEO of EBA Clearing. “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.”

The new platform will provide a real-time payment processing facility available “around the clock” every day of the year. Account-servicing payment service providers (AS-PSPs) from all over Europe will be able to use the solution for any payment product compatible with the SCT Inst Scheme and in line with the ISO 20022 global messaging standards.

Massimo Arrighetti, CEO of SIA, the technology company that designed EBA’s architecture, adds: “The on-time delivery of complex pan-European payment infrastructure projects is the core value of the long-standing partnership between EBA CLEARING and SIA. We are pleased to have added another chapter to this successful track record with the prompt implementation of their new real-time platform in our test.”

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