JPMorgan launches SEPA Instant payments
Written by Hannah McGrath
JPMorgan is launching real-time payments across its European banking network.
The roll-out of the Single European Payments Area (SEPA) Instant service means the bank now offers real-time payment capabilities in US Dollar, Pound Sterling and Euros.
It said the system, which includes a single global Application Programming Interface (API), offers immediate payments finality, easier reconciliation, the ability to address immediate business needs and improved liquidity management.
SEPA Instant can also be used for credit transfers of up to €15,000.
Sungmahn Seo, head of EMEA payments at JPMorgan, said: “Adding SEPA Instant is another step towards offering real-time payments around the globe.”