Pressure on banks intensifies over eurozone instant payments
The European Commission has mandated instant payments across the eurozone, and banks must urgently ensure that their payment systems are fit for purpose.
This move was the culmination of three years of consultation and was prompted by the relatively low implementation of instant payments across the eurozone – with the commission acknowledging that around one third of EU payment service providers don’t even offer the service.
"Banks that are not yet capable of supporting instant payments or only have interim solutions in place must review their roadmap to include instant payments, as an opportunity to generate additional revenue", suggests Bruno Chataigner.
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