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.