JP Morgan has announced the addition of Sepa Instant (single euro payments area) in Europe to its real-time payments offering.
The US group says that the move rounds out JP Morgan’s real-time payment capabilities in USD, GBP and EUR and that clients benefit from immediate payment finality, easier reconciliation, better budgeting and improved liquidity management.
The launch is “another step towards offering real-time payments around the globe,” adds Sungmahn Seo, MD, head of EMEA payments and FX for JP Morgan Treasury Services.
Colleague Art Brieske, MD, head of faster payments, JP Morgan Treasury Services, comments: “As we create new opportunities and efficiencies for our clients via Sepa Instant and other real-time payment schemes we expect the take-up for real- time payments will grow exponentially.
The news follows last week’s announcement of a joint launch by Deutsche Bank and fintech software group Serrala of the first application programming interface (API) for Sepa instant payments in the market.
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