Instant SEPA: relevance in payments in June 2022

At the end of June 2022 we want to take another look at SEPA Instant Payments, analyze the current participation of banks and thus assess its relevance in interbank payments in particular. As background information for more in-depth information, you will find the essential features of SEPA instant credit transfers in our article SEPA Instant Credit Transfer: Transfers up to € 100K in 10 seconds.

Comparison of SCT Inst vs. SCT participation in the SEPA area

Based on the data from ECB, from EBA Clearing and the Bundesbank’s directory of available payment service providers, the total number of payment service providers participating in SCT in the SEPA countries (measured using their BIC bank codes) is set in relation to the number of those opted for SEPA Instant participation. The following overview shows the BIC bank code count per country for SCT Inst in relation to SCT for the countries of the SEPA area.

To explain the key figure Ratio SCTInst/SCT BIC-Bankcodes:

1. A ratio of 100% for a country means that all SCT participating BIC bank codes also participate in SCT Inst.
2. A ratio of 0% for a country means that no SCT participating BIC also participates in SCT Inst.

Ratio of the number of SCT Instant participants to SCT (counted by unique BIC bank codes) per SEPA country in June 2022.

Instant SEPA: Number of BIC bank code participants in TIPS and RT1

The following figure shows the number of BIC bank codes participating in TIPS and RT1 in the period from May 2020 to June 2022:

Instant SEPA: Number of BIC bank codes connected to TIPS or RT1 in the period May 2020 – June 2022 (data sources: EZB, EBA Clearing)

Current transaction statistics of ECB

The following graphic illustrates the transaction share of SEPA real-time transfers as a percentage of all SEPA transfers for the months October 2019 to March 2022:

Percentage of SEPA real-time transfers in all SEPA transfers between October 2019 and March 2022

Are you as a bank interested in software solutions for processing SEPA instant credit transfers?

CPG.instant as a software solution for connecting core banking systems to TIPS or RT1 in interbank payments

Among other things, we offer high-performance software solutions for processing SCT Inst transfers, which allow your bank to flexibly connect one or more core banking systems and clear SEPA instant payments accordingly via interfaces to TIPS or RT1.

If you have any questions or suggestions or you are interested in the topic of payment transactions, instant payment and related software products, please do not hesitate to contact us.

This article is part of a bi-monthly series and appears in our blog category on SEPA instant payments.

External data sources:

• ECB TIPS facts (16.03.2022)
• EBA Clearing RT1 participants (07.06.2022)
• Bundesbank Verzeichnis der erreichbaren Zahlungsdienstleister (20.06.2022)