EBA CLEARING has secured “strong commitment” for the planned launch in the fourth quarter of 2017 of its pan-European instant payment platform. The company reports that close to 40 financial institutions operating across the single euro payments area have committed to supporting and funding the development and implementation of the platform. They will also be involved in shaping the system design, functionality and interface specifications.
“The EBA CLEARING solution will provide a real-time payment processing facility, which will be available around the clock on any day of the year,” said the company. “Payment service providers [PSPs] from all over Europe will be able to use this highly flexible solution for any payment product that complies with the instant payment scheme being developed by the European Payments Council [EPC].”