The introduction of SEPA instant payments allows funds to be transferred in the matter of a few seconds. The procedure places new demands on payment service providers who, in addition to the implementation, must also keep an eye on constantly increasing customer demands for mobility and flexibility.
Instant payments have fundamentally changed global payments and are a drive for innovative payment procedures. Since the introduction of SEPA instant payments in Europe, the intraday payments are possible without any problems 365 days a year. The payment is final within seconds and the recipient can dispose of the funds. The procedure is accessible to all customer groups and does justice to the fast-moving economy and the digitalisation of trade.
For payment service providers, however, the implementation is a challenge. In addition to integrating as seamlessly as possible into existing systems and processes and a suitable strategy for introducing new products, the focus must also be on the possibilities for future further development and interoperability.
This is not least due to the end customers' interest in a fast payment processing. Mass payments, for which instant payments are predominantly used, are a particularly important field of activity for payment service providers in view of the billions in turnover every business day.
The providers must deal with ever-increasing customer demands regarding functionality, security, data quality and transaction processing. Solutions beyond the desktop application for online banking are now indispensable: access to one's own accounts must be possible at any time and from any location. Providers are responding to this with appropriate software, special portals or banking apps.
Thanks to the expertise of our consultants in the retail business and in the introduction of SEPA instant payments, we can provide you with comprehensive advice on these topics and support you in the subsequent implementation. Please do not hesitate to contact us for more information.
Sales Director & Strategic Alliances