I would therefore encourage all payment service providers that have not yet implemented SCT Inst, to do so as soon as possible. In fact, instant payments may well be the game changer in the payments market, paving the way for innovative European payment solutions.
We are embarking on a new era in which the pace of technological change is challenging policymakers and central banks as well as incumbent market players. Evolutions, and sometimes even revolutions, in both technology and user needs are facilitating the emergence of new players in the payments ecosystem. This brings competition and boosts the range of choice for consumers.