Since its introduction in Europe in 2014, the general hype surrounding the Single Euro Payments Area in the financial world has subsided significantly. Nevertheless, there is still movement in the topic, and further development is a continuous process. Reason enough for every company and financial institution to still give this subject their attention.
Even if innovative topics such as instant payments, card-based payments or others are currently dominating the discourse in the industry: the technical basis on which most innovations are built is still the Single Euro Payments Area, better known as SEPA. And this basis is continuously being expanded. For example, financial institutions have been able to participate in the Eurosystem's TARGET Instant Payment Settlement (TIPS) procedure since November 2018. The basis for this is the SEPA scheme SCTinst, which in turn is based on the standard procedure for credit transfers SEPA credit transfer SCT. Other further developments such as EBICS 3.0 would also hardly be conceivable without SEPA payments.
In addition, efforts continue to unify the different card systems in Europe. Only when the entire European payments system, from formats to card payments, is designed from a single mould can we speak of a finalisation. However, this is not yet foreseeable.
The payments products developed by PPI help financial institutions to stay up to date in this field. For example, TRAVIC-Payment Hub provides high-performance solutions for mass payments.
TRAVIC-Retail is the most powerful FinTS server on the market. It offers numerous access channels for online banking, many interfaces for banking connections, multi-client capability and individually expandable business transactions.