Industry Pins EU Instant Payment Hopes On Request To Pay

Industry leaders have touted request to pay as the function that will drive the mass adoption of instant payments across Europe, after years of largely futile efforts to introduce a cohesive scheme across the EU.

EBA Clearing, which was founded by the Euro Banking Association and operates the RT1 instant payments scheme, recently announced that it planned to launch a new request to pay infrastructure in the second half of 2020, with a full rollout in 2021.

The Euro Banking Association is an industry body comprising around 200 member banks with operations in Europe.

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