On March 24, the European Commission (EC) published a targeted consultation paper on instant payments. The consultation will collect information from payment service providers (PSPs) and providers of supporting technical services to enable the Commission to identify and address remaining obstacles instant payments in the EU.

Questions concern areas such as PSPs incentives to adhere to an instant credit transfer scheme, PSPs liquidity management, restrictions on operations due to sanctions screening, complaints relating to incorrect beneficiary.

Comments are to be provided by 2 June 2021.