Meet the SEPA Instant Payments deadlines with our checklist

The Instant Payments Regulation (IPR) will require all payment service providers (PSPs) throughout Europe to be able to send and receive Instant Payments by the end of 2025.

PSPs in the European Union (EU) have until 9th January 2025 to prepare for receiving instant payments, and until 9th October 2025 to ensure consumer and business banking customers can send instant payments.

This seismic change will ensure that all Euro transactions throughout Europe are completed in 10 seconds or less, around the clock. However, at a time of great upheaval for banking technology and infrastructure – and with tight deadlines in place – adapting to instant payments may be easier said than done.

As a bank, your systems must be available 24/7, scalable, interoperable and secure. You must cover downtime and system outages while recording and synchronizing data accurately, in real-time, across various parts of the payment system for it to be reliable. You must offer instant payments on all payment channels, provide a solution for bulk payments, and align your SCT Inst pricing with SCT. There are new rules for sanctions screening and new services to implement for fraud. It’s a massive challenge.

To help you stay on track, we’ve created a handy checklist that includes some of the major considerations. Ensure you’re ready by addressing key tasks, from defining your clearing and liquidity strategy to implementing a Verification of Payee service.

Download your free copy.