SCT Inst

SEPA Instant Credit Transfer (SCT Inst)

SEPA Instant Payments for the European market provides rulebooks to implement credit transfer transactions on a realtime network.

SCT Inst has two models:

  • Originating PSP (Payment Service Provider) -> Originating CSM (Clearing and Settlement Mechanism) -> Beneficiary CSM -> Beneficiary PSP
  • European Central Bank will provide a service named TIPS (TARGET Instant Payment and Settlement), all participating banks could connect to the system and send credit transfer messages. See related documents at Resources.