How to unlock the potential for instant payments?

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The ongoing digitalisation process is amplifying the importance of electronic payments for the functioning of the European economy. In response, the European Commission has stepped-up its ambitions to create an integrated payment system and to increase the autonomy of existing means of payments.

Real time electronic payments, also known as instant payments, play a pivotal role in creating the desired homegrown pan-European integrated payment system for both online and point-of-sale payments. In fact, the Commission has pledged to make instant payments the ‘new normal’ in the EU.

This meeting report is based on the discussion held during the CEPS-ECRI conference on ‘How to unlock the potential for instant payments?’ on 5 May 2022.

Willem Pieter de Groen is Research Fellow and Head at the Financial Markets & Institutions Unit, CEPS. Beatriz Pozo Pérez is  Research Assistant and Membership and Events Coordinator at the Financial Markets & Institutions Unit, CEPS