EBA Clearing unveils specifications for new pan-European instant payment solution
EBA Clearing, a provider of payment infrastructure solutions owned by 53 major banks in Europe, has published the specifications for its future pan-European real-time payments solution.
The new solution is set to go live in November 2017. It will comply with the SCT Inst Scheme of the European Payments Council (EPC).
The document, which can be accessed here, covers the functional description and the interface specifications for payment services providers (PSPs) that plan to join the service.
It follows on from the 2015 publication of the blueprint document outlining high-level business requirements.
Hays Littlejohn, CEO of EBA Clearing, says that over 400 industry specialists took part “in sneak preview sessions on the design of the solution”.
“The availability of our specifications should now allow PSPs throughout Europe to start their preparations for using this pan-European instant payment service from as early as the launch date in November 2017,” he adds.
Erwin Kulk, head of service development and management, at EBA Clearing, says the service will offer different ways for PSPs to interface with the platform, including a “plug-and-play” web-based user interface.