French clearing and settlement agency STET is set to launch a pan-European instant payment service to enable payment service providers (PSPs) to deliver a service compliant with the SCTinst scheme to be defined by the EPC.
The service will be offered to the French banking community as an early adopter but will be open to any PSP or PSP community all over Europe, the company said.
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The technical information of the new service will be offered to European PSP communities on a white labelled basis.
The new product adds to STET’s service range, which includes Multi-CSM, its single platform, multi-community, for the non-SEPA instruments including cards clearing and SEPA.EU, its SEPA schemes CSM.
STET, which operates as a real-time clearing system for retail payments, currently processes over 15 billion transactions per year and supports the full range of payment instruments.
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