Even though at the moment topics such as instant payments, card-based payments and others are dominating the discourse in the payments sector, the main foundation on which new features are based continues to be the Single Euro Payments Area SEPA. And this foundation keeps being expanded.
From November 2018 financial institutions can participate in the TIPS procedure (TARGET instant payment settlement) of the Euro system. Here, too, SEPA forms the basis for this new payment type, which is derived from the general SEPA Scheme (SCTinst).
Furthermore, efforts are made to standardise the different card systems in Europe. Not before the entire European payments sector has been unified from the formats to the card payments can this subject be closed. So far an end is not in sight.
The payment products developed by PPI AG help banks to process SEPA payments efficiently. PPI’s TRAVIC-Payment Hub, for example, offers high-performance solutions for mass payments.