Friday 28th October, 2022
Banking group Citi has announced the launch of Single Euro Payments Area (SEPA) Instant Payments in Europe, increasing the bank’s global instant payments offer.
This new feature allows clients to pay and receive money from 36 SEPA countries instantly, making cross-border money transfers more seamless and efficient. The SEPA Credit Transfers are processed within seconds, 24/7, and makes funds available immediately to recipients.
The offering gives clients access through Citi’s platforms, including CitiDirect and CitiConnect to execute instant payments. With standardised connectivity platforms, customers can also benefit from a scalable solution to enable rapid global expansion within existing architecture.
Businesses can also leverage SEPA Instant Payments and deploy the solution for additional cases, including on-demand payments. Ultimately, the solution offers corporates increased flexibility and a variety of choices when it comes to payment methods.