SCT Inst Definition.
SEPA Instant Credit Transfer (2017): a euro transfer credited in under 10 seconds, 24 hours a day, 365 days a year. The scheme’s €100,000 cap was lifted as part of compliance with the Instant Payments Regulation (IPR), and each PSP now sets its own limits. It made up about 20% of euro area credit transfers in early 2025, and adoption has accelerated sharply since the IPR required it to cost no more than a standard transfer.
See also
Where this term appears
GuidePayment schemesGuidePayment regulationGuideCentral banks and payment infrastructuresGuidePayments in the BalkansGuidePayments in the Baltics and FinlandGuidePayments in the Netherlands and BelgiumGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in Central and Eastern EuropeGuidePayments in FranceGuidePayments in Greece, Cyprus, and MaltaGuidePayments in IrelandGuidePayments in Italy