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EBA Clearing adds EBICS connectivity option for instant payment system

EBA Clearing has announced that participants in its pan-European instant payment infrastructure service will be able to use, in addition to SIANet, the Electronic Banking Internet Communication Standard (EBICS) for the exchange of transaction messages with the platform. The Company will introduce EBICS as an additional connectivity option from the start of the service in November 2017 and make it available in the test environment from June 2017.

Real-time infrastructure

EBA Clearing's real-time payment infrastructure has been conceived as a network-agnostic system, so that future users can rely on different network solutions, provided they have been introduced at platform and user level in line with the necessary security requirements. Since EBICS is an open connectivity standard, solutions relying on this standard can either be implemented and hosted by the users themselves or procured from specialised providers.

To ensure that the implementation of EBICS complies with state-of-the-art network security requirements, EBA Clearing has put together a set of specifications for future participants wishing to connect to the new instant payment service by using EBICS. These specifications have been developed in consultation with a group of network experts from future participant institutions and will be shared with the user community in the coming weeks.

“The introduction of EBICS as a second connectivity option next to SIANet gives our growing frontrunner community more choice and flexibility in connecting to our instant payment platform. EBICS is an attractive alternative both for big users with internal SEPA architectures already running on EBICS and for smaller users looking for external solutions. We expect that this increase in choice will help to increase the overall reach of the solution,” said Erwin Kulk, Head of Service Development and Management, EBA Clearing.

“In the last few months, we have seen more and more AS-PSPs – but also technical service providers as well as liquidity providers – gearing up their preparations for the go-live in November 2017. Many other users are expected to join the service throughout 2018. We expect that with the introduction of a second connectivity option, the number of early adopters will further grow.”

CTMfile take: In November 2017 a whole new payment world will open up in Europe, will you be ready to exploit the new opportunities?

This item appears in the following sections:
Payments - Making
Making International Payments
Making Urgent Payments

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