Single Euro Payments Area (Sepa)
European states announce improvements in payment systems
Denmark opts for back-ups, Sweden goes offline, Balkan states choose Sepa while Austria ups security
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
Moldova joins Single European Payments Area
Central bank hails “historic decision” that it says will save citizens €12 million annually
West Balkan central banks to create instant payments system
Albania, Bosnia and Herzegovina, Kosovo, and Montenegro to launch Tips clone in 18 months
Denmark to join eurozone’s T2 and Tips systems
National Bank of Denmark expects to fully transition by April 2025
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
Austria introduces new clearing service
Central bank welcomes lender-owned company’s oversight of new system
Central Bank of Ireland gives go-ahead to Google payments
Tech giant awarded licence under PSD2
Foreign jurisdictions could disrupt European payments, Mersch warns
EU must end reliance on foreign-based payment card providers, ECB official says
Sia given green light to access Eurosystem’s instant payment system
ECB permits first network provider to give access to new Tips platform
Swift starts work on pan-European real-time payment connectivity pilot
Messaging infrastructure aims to connect Tips and EBA Clearing’s RT1 system
Instant payments crucial to stop crypto disruption – Mersch
ECB board member reiterates concerns around viability of crypto-currencies, while encouraging banks to adopt instant payment networks
Latvian central bank unveils instant payments system
System is the first to be compatible with the Single Euro Payments Area project, says the bank
Macedonia links up with EU payment infrastructure
Central bank announces local interbank payment system will connect with Target2 via the Bank of Italy; payments department manager says the development will enable smoother integration with the EU
ECB announces plans for instant payment system changes
Coming year will see “decisive” innovations to clearing and settlement systems, Yves Mersch says; French governor calls for more European competition in payment services
ECB's Mersch considers hurdles to single payments area for cards
European payment card schemes and processors must address issues of standardisation, security and interoperability to create an effective single payments area, Yves Mersch says
Payments industry body to implement instant payments in euros ‘by 2017’
The European Retail Payments Board encourages industry body to have a system of instant payments operational by November 2017
Bank of Latvia establishes first overnight clearing cycle
New cycle will accelerate processing of retail payments submitted late in the day and comes with an upgrade to business continuity that should see fewer payments rejected
Euro Retail Payments Board warns of fragmented market for 'instant payments'
Stakeholder group sets up working streams on 'person-to-person' and contactless euro payments; chair Yves Mersch stresses importance of instant clearing services
Bundesbank unveils new card clearing infrastructure
Bundesbank and EBA Clearing launch new XML-based infrastructure for card clearing; payments chief says it allows banks to ‘leverage’ their Sepa investments
Finnish paper says Sepa 'not enough’ on its own
Researchers argue that Sepa is an ‘important’ initiative but further measures will be needed to create an efficient payments system; call for ‘vigorous’ competition policies