EBA sticks to SCA decision

spike

Despite some countries, like the UK, adding further extensions to the SCA deadline, the EBA is maintaining its strict ruling that the December 2020 deadline must be met.

EBA sticks to SCA decision – no further deadline extension

At present, only 20% of online transactions go through with SCA. To move towards 100% without any glitches in the next six months is quite a challenge.

CMSPI, an independent global payments consultancy group, estimates that this decision could cost merchants €90 billion in lost sales if mandatory SCA is launched without being optimised. This risk is very real, and the UK

Read More

EBA CLEARING RT1 reaches critical mass and R2P pilot goes live

spike

EBA CLEARING says that its RT1 platform has made considerable progress in building up pan-European instant payment reach across the French retail payments market: the system extends pan-European reach through a critical mass of payment service providers in France.

EBA CLEARING RT1 reaches critical mass and R2P pilot goes live

Since the beginning of 2020, French banks have been ramping up their Europe-wide connectivity for SEPA Instant Credit Transfers through RT1, with some of them connecting to the EBA CLEARING platform with the support of STET.

Europe-wide, RT1 has seen a significant ramp-up since its go-live in November 2017. Banking

Read More