Spanish payments services company Iberpay has announced that it is ready to connect Spanish banks with the EBA Clearing system for cross-border euro real-time payments.
The move comes in time for the pan-European SCT Inst Scheme which launches on 21 November 2017.
Iberpay will be one of the first national providers of clearing and settlement services that will connect to the pan-European instant payment infrastructure platform RT1 as a technical service provider.
The arrangement will allow banks in Spain to exchange transactions with the growing SEPA-wide payment service provider (PSP) community.
Participants from nine countries have committed to joining RT1 already in 2017, extending SCT Inst reach to over 325 PSPs.
Javier Santamaría, chairman of Iberpay, said: “Iberpay is strongly committed to playing a leading role in the future of payments for the benefit of our participating entities. Spanish banks will be able to exchange all their instant credit transfers through a single window which will process them in the best way across Europe, in a seamless way and reusing the efficiencies of Iberpay’s platform.
“Iberpay is extremely pleased to collaborate with EBA Clearing with the aim to better serve the banks and their customers”.
Hays Littlejohn, CEO of EBA Clearing, added: “We are pleased to see the Spanish community connected to RT1 from day one of the SCT Inst Scheme.”
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