In response to its call for the development of a pan-European instant payment scheme, the market delivered: the European Payments Council (EPC) developed the Instant Credit Transfer (SCT Inst) scheme in November 2017.
For the first time in Europe, a significant payment scheme was established with full stakeholder 1/4  BIS central bankers' speeches  involvement, both on the supply and demand sides, and in a remarkably short amount of time. Some 51% of European payment service providers that offer credit transfer services are reachable for instant payments by now.