ICBPI and Nets together, for a compliant SEPA instant payments solution in italy

Press release

​Italian ICBPI - Istituto Centrale delle Banche Popolari Italiane S.p.A - and Nets have agreed to cooperate and establish an instant payments solution in Italy within Q1 2017.

​Based on the very successful implementation of Nets RealTime24/7 solution in Denmark the ICBPI’s instant payments platform will serve the Italian Payment Service Providers (PSPs). There will be no limit to the use cases but the focus will be on mobile payments initially targeting person-to person payments.

 

The solution already based on ISO 20022 and SEPA SCT will be fully compliant to the SCTINST scheme thus ensuring interoperability and reach in the pan-European market. In addition, the instant payments solution will serve Italian customer requirements 24/7/365 in a fully resilient and highly efficient manner with instant finality of the payment.

 

"Innovation in Payment Services is an increasingly strategic driver of economic growth in Italy and Europe" - said Salvatore Borgese, ICBPI Payment Services Director. Instant Payments, also with a view to PSD2, is one of the most significant breakthroughs in this scenario. ICBPI wants to continue representing a reference point within the payment systems market. Our agreement with Nets, which has proven expertise in Instant Payment services, will allow us to achieve important goals. We will provide to Italian banking community a reliable and customisable solution, interoperable and reachable at European level, scalable, and definitely designed to meet heterogeneous payments use types of today (eg. any P2P Apps already on the market) and many others of tomorrow.

 

"ICBPI’s plan to introduce instant payments in Italy and create interoperability to the pan-European solution based on the Danish experience is a strong strategic plan, which will enable ICBPI’s customers to introduce new and innovative services, both in the mobile payments area but also towards request for payments and future PSD2 offerings", said Torben Hohlmann, SVP, Clearing Services at Nets.

 

"The new solution is set to be the first 24/7 operational SEPA compliant instant payments solution in the Euro-zone and marks an important step for Nets’ expansion outside the Nordic region and into other European countries", says Paul Francis Walvik-Joynt, Engagement Director at Nets.