Euro Retail Payments Board warns of fragmented market for 'instant payments'
Yves Mersch-chaired group sets up working streams on 'person-to-person' and contactless euro payments
The Euro Retail Payments Board (ERPB) has warned the emergence of new payments technology in Europe could end up creating a fragmented market for 'instant payments', similar to what existed for regular payments in the past.
Instant payments are defined by the ERPB as electronic retail payment solutions available at any time that result in the immediate or close-to-immediate interbank clearing of a transaction and crediting of a payee's account.
They have been described by the stakeholder group
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