The introduction of the European SEPA SCT instant system marks a significant step towards establishing instantaneous, international payment services among participating banks. European businesses now have the capability to accept both one-time and recurring payments through SEPA Instant from their customers, with settlements directly processed into their European bank accounts.

This eliminates the need for businesses to manage multiple individual bank accounts to facilitate cross-border transactions, streamlining the payment process considerably. Moreover, with SEPA Instant, businesses can receive foreign currency payments with real-time conversion rates, enhancing transparency in financial transactions.

SEPA Instant credit transfer is not only beneficial for person-to-person transactions but also for person-to-business payments across various sectors and industries.