EBA and SIA launch instant payments testing 19 January 2017Milan Reporter: Stephanie Palmer
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Testing has gone live for EBA Clearing’s pan-European instant payment infrastructure, before its scheduled go-live date in November.
The testing phase for the infrastructure launched following a meeting of 28 of the involved funding institutions in Milan, which included a demonstration of the new system in a test environment.
The test environment is run by SIA, an Italy-based payment processing company and technical solution provider for the infrastructure project.
EBA Clearing and SIA first signed a letter of intent to provide a pan-European infrastructure solution for instant payments in February last year, with the aim of launching the solution by Q4 2017. Both have hailed the launch of the testing phase as “timely”.
Hays Littlejohn, CEO of EBA CLEARING, said: “The timely delivery of our instant payment system in the test environment is a key milestone on our journey towards the go-live of the service in November 2017. I would like to thank our funding institutions and our technology partner SIA for their vital contribution to the successful implementation of this first version of this pan-European system.”
He added: “We now look forward to engaging the growing community of early movers and their trusted service providers in the pilot user tests that will follow our acceptance testing with SIA.”
Massimo Arrighetti, CEO of SIA, added: “We are delighted to support EBA CLEARING as well as banks and other payment service providers across the single euro payments area in this major pan-European cooperative endeavour with our international expertise and experience in delivering highly resilient, secure, scalable and flexible payment infrastructure and with our wide range of innovative solutions.”
“We are fully committed to facilitating the onboarding by the future users and helping to pave the way for the timely launch of a new generation of payment products and services.”
The new infrastructure platform is a real-time payment processing facility intended to be available 24/7, 365 days a year.
If successful, it will allow European account-servicing payment service providers to make any euro-denominated payment that is compliant with the instant payment scheme of the European Payments Council, and in line with ISO 20022 messaging standards.
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