Unlock Instant Payment with SEPA Instant
We are moving towards a fast-paced world, where anything that happens not in an instant is too-little, too-late. To keep up with this pace, European payments are shifting gears with the SEPA instant mandate. Adapt to this fast change in an instant with the diligent support of Aspire Systems, so that your business is prepared to leverage this powerful tool for faster and more efficient transactions.
Are you SEPA Instant ready?
SEPA Instant mandate Implementation Deadline
Jan 19, 2025
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What is the SEPA Instant Mandate?
The SEPA Instant Mandate will make instant payments the standard across the Single Euro Payments Area (SEPA). Therefore, payments made through SEPA Instant are credited to the recipient’s bank within seconds. This means faster cash flow, an improved customer experience, and streamlined operations for your business.
Unleash the Power of Instant Payments in Europe
Traditional bank transfers can be slow and inconvenient. SEPA Instant Credit Transfer (SCT Inst) is changing the game by enabling real-time payments across Europe. Our comprehensive whitepaper explores the benefits of SCT Inst, including faster transactions, 24/7 availability, and increased security. It also dives into the upcoming ISO 20022 Version 4.0 update and how Aspire can help you implement SCT Inst.
SEPA Instant Mandate Checklist You Need to Know
The implementation deadline for SEPA is set to be 9 months for being able to receive instant payments and 18 months for being able to send them. SEPA instant mandate also comes with mandatory IBAN checks on all new payees and daily sanction checks on your client base. Also, SEPA participants who currently provide SEPA CT and DT should perform the following action items:
- Review and potentially upgrade sanction screening systems.
- Adapt batch-based processes to handle real-time transactions.
- Strengthen fraud detection systems.
- Assess system resilience for 24/7/365 instant payments.
- Implement IBAN-name matching and service deactivation options.
Our Expert Team can Help you with Payment Flexibility
Seamless Integration
Integrate SEPA Instant functionality into your existing systems for a smooth transition.
Compliance Expertise
Ensure adherence to all SEPA regulations and security standards.
Expert Support
Benefit from ongoing guidance and support to maximize the benefits of SEPA Instant.
Our Customers
Don’t let the payments take more than an instant!