On February 7th, the regulation known as the Instant Payment Regulation (IPR) was approved. This regulation governs instant payments with the primary objective of increasing the spread of instant euro transfers and strengthening the protection of users (citizens and businesses) from sending funds to the wrong beneficiary.

With the new rules, all payment service providers will be required to offer customers the ability to make money transfers through instant transfers within 10 seconds of the transaction approval, 24 hours a day, 7 days a week. Additionally, the cost of the service must not exceed that of traditional transfers.

It is expected that this latest development - in particular - could significantly impact the growth of usage volumes of a service that, for businesses (especially SMEs), translates into the ability to rely on immediate cash flow and, for consumers, instant availability of funds.

At the national level, the implementation of what is contained in the resolution of February 7th must occur within 12 months.

In this increasingly challenging context - to increase the competitiveness and efficiency of the banking industry - ReActive's Payments & International Team is making various innovations available.

The innovations that are attracting particular attention from the market include the calculation of non-performing loan risk through the use of more innovative technologies (such as AI) and the implementation (both on the Bank side and the Customer side) of the CBI Safe Trade invoice control database, admitted to the Regulatory Sandbox and designed to mitigate the risk arising from fraudulent invoice use.

In addition to these, other solutions for enhancing instant transfers will soon be introduced, particularly the SEPA-compliant and proprietary request-to-pay feature (within the proprietary customer base), leveraging expertise in backend and frontend systems (mobile wallet).