UniCredit Rolls Out its Cross-border Instant Payments Solution, Starting with Italy and Germany

UniCredit Rolls Out its Cross-border Instant Payments Solution, Starting with Italy and Germany
22.11.2017 07:12 am

UniCredit Rolls Out its Cross-border Instant Payments Solution, Starting with Italy and Germany

Payments
  • UniCredit goes live with instant payments in Italy and Germany and becomes the first bank to offer the service in the German market

  • The bank’s first payment was executed in the morning of 21 November between Germany and Italy

    UniCredit has today launched its instant payments solution in Italy and Germany. Immediately after the European instant payments infrastructure was officially in operation this morning, UniCredit conducted its inaugural instant payment from Germany to Italy. The payment took exactly 2.5 seconds to be completed, demonstrating the bank’s capabilities in both countries and across borders. This makes UniCredit the first bank to offer real-time payments in Germany and the first to use the format for a cross-border payment.

    Today’s launch marks the beginning of the bank’s roll-out of instant payments in line with the European Payments Council’s (EPC) SEPA Instant Credit Transfer (SCT Inst) scheme, as originally initiated by the European Central Bank. Instant payments allow clients to conduct payments within only a few seconds. As set by the EPC, there is a limit of 15,000 euro per transaction.

    Gianfranco Bisagni, Global Co-Head of CIB at UniCredit, comments: “After a very focused development and implementation process, the official launch today is a proud moment for us. We have always aimed to lead the way on developing instant payments solution for our clients and we are excited about the benefits this new service will bring to our clients – promoting speed and transparency through 24-hour, 365-days-a-year coverage and real-time notifications of successful payments.”

    UniCredit now offers instant payment execution for inbound payments in Italy and Germany. After one week of live operation in the European instant payments infrastructure, outbound payment execution will be available in Germany starting from 27 November 2017. Outbound payment execution in Italy will follow on 22 February 2018. 

Related News

SmartStream introduces new industry digital payments solution

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced the launch of TLM Aurora, the next generation of Corona, the... Read more »

Alipay will be available in Seoul taxis via kakaopay beginning January 2019

Following the introduction of QR-code payment in more than 71,000 taxis in Seoul, all taxis in Seoul will accept Alipay beginning in January 2019.

Alipay, the world’s... Read more »

SWIFT rolls out gpi tracker for all as usage soars

SWIFT gpi has been rapidly adopted since its launch last year, and is now being used to send more than a million payments every day with a combined value of well over $100... Read more »

WINTER HOLIDAYMAKERS WARM UP TO PREPAID CARDS

Holidaymakers are warming up to prepaid cards for overseas spending as the switch from cash continues, new research from financial data analytics experts Consumer Intelligence... Read more »

New research: Payment fragmentation is the “new normal” across all markets

Research published today by RS2 examines the payment landscape across a number of global markets, and finds that... Read more »

Accuity 2018 payments report finds banks embracing automation to deliver accurate payments and a better customer experience

According to the Accuity “... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App