The European Payments Council (EPC) recently ran an online poll asking the public to choose what they think is the best use for the forthcoming SEPA Instant Credit Transfer scheme (SCT Inst).

The results show that nearly half of the voters (48 per cent) think that consumer-to-business payments will benefit the most from SCT Inst, while 35 per cent said that person-to-person payments would be the most useful application of SCT Inst.

Only 14 per cent of those who submitted their answers to the survey thought that corporate-to-corporate payments would be the best user case. The EPC states: “This low share of votes can be explained by the scheme’s current transaction limit – €15,000 – which might not sound attractive for corporates. This parameter will however be regularly reviewed starting in November 2018, after the scheme’s first anniversary.”

The pie chart below shows the results in full:

CTMfile covered progress and expectations for SCT Inst in this article: What opportunities does EPC’s SEPA Instant Credit Transfer open up?

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CTMfile take: The results reflect what the industry has been saying and corporate-to-corporate use of SCT Inst is expected to grow after November 2018, when the €15,000 transaction limit is reviewed.