In Europe, with its single market for goods, capital, services and a single currency, it is essential to harmonise cashless payments via such a system as SEPA. I am convinced that this harmonisation can serve as a valuable point of reference for further integration activities in other parts of the world and also at global level.
Now, European end-users whose banks have already joined and implemented the scheme can send and receive instant payments across Europe in less than 10 seconds. A positive end-user experience will ultimately determine the success of instant payments.