# UniCredit prepares for multinational roll-out of instant payments Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-07-27 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: UniCredit Tests Pan-European Instant Payments Solution Meta Description: UniCredit is getting ready to launch pan-European instant payment products with RT1, enhancing customer experiences with 24/7 payment facilities. URL: https://financedigest.com/unicredit-prepares-for-multinational-roll-out-of-instant-paymentshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/dsc-1813-353-1-1736843656856-compressed.jpg) - **UniCredit has started testing with the first pan-European instant payment solution, RT1, in preparation for its instant payments go-live** - **Real-time payments products will first become available to UniCredit customers in Italy and Germany** UniCredit and EBA CLEARING today announced that UniCredit has started testing with RT1, EBA CLEARING’s pan-European, real-time payment platform. This test phase is a key milestone for [UniCredit in its preparations](https://www.financedigest.com/from-fragmented-systems-to-unified-cpm-unicredit-prepares-for-todays-finance-challenges.html "FROM FRAGMENTED SYSTEMS TO UNIFIED CPM – UNICREDIT PREPARES FOR TODAY’S FINANCE CHALLENGES") to roll out euro instant payment productsto its customer base across Europe. UniCredit is one of the first banks preparing to make real-time payments available to customers in the Single Euro Payments Area (SEPA) on the launch date of the European Payments Council’s SEPA Instant Credit Transfer (“SCT Inst”) Scheme. [UniCredit customers in Italy](https://www.financedigest.com/unicredit-to-pay-bonus-replace-850-older-branch-staff-in-italy.html "UniCredit to pay bonus, replace 850 older branch staff in Italy") and Germany will be the first to use this new payment method, starting from November 2017 onwards. **Jan Kupfer,Global Co-Head of Global Transaction Banking at UniCredit, commented: “The introduction of euro-denominated [instant](https://www.financedigest.com/instant-payments-and-the-need-for-standardization.html "Instant payments and the need for standardization") payments will enable us to better support the payment businesses of both our corporate and retail customers in the internal market. By providing our customers with paymentsfacilities 24 hours a day, 365 days a year,with payers notified of a successful transaction within seconds, we will greatly enhance the [effectiveness of our services and increase customer](https://www.financedigest.com/5-simple-steps-to-an-effective-customer-complaint-response-strategy.html "5 Simple Steps to an Effective Customer Complaint Response Strategy") trust. Widespread adoption and new, value-added services that optimise the customer experiencewill only [serve to increase the benefits](https://www.financedigest.com/health-benefits-served-by-vegan-diet-will-infuses-vegan-noodles-market-demand.html "Health Benefits Served By Vegan Diet Will Infuses Vegan Noodles Market Demand"). In addition, UniCredit’s ongoing [digital transformation](https://www.financedigest.com/is-the-road-to-data-transformation-slowing-digital-transformation.html "Is the road to data transformation slowing digital transformation?") program will be a further beneficiary of our connection to the new instant payments infrastructure.”** **Hays Littlejohn**, CEO of EBA CLEARING, said: “We are very pleased to count UniCredit among the early front-runners actively preparing to join our RT1 [system](https://www.financedigest.com/covid-19-putting-a-spotlight-on-mea-payment-systems.html "COVID-19: Putting a spotlight on MEA payment systems") on the launch date of European instant payments and to roll out this highly attractive new payment method to a multinational customer base. Our aim was to provide the European payments industry with a fully-fledged pan-European infrastructure system from the start date of SCT Inst, and we are happy to [see that RT1 meets the requirements of our funding](https://www.financedigest.com/global-equity-funds-see-large-outflows-on-slowdown-worries.html "Global equity funds see large outflows on slowdown worries") banks as well as of a growing community of fast followers across the continent. Banks from several different countries are currently engaged in testing activities, with more following before the [end of the summer](https://www.financedigest.com/factbox-europes-travel-disruption-set-to-continue-as-summer-ends.html "Factbox-Europe’s travel disruption set to continue as summer ends"). At present, [close to 30 financial](https://www.financedigest.com/fast-track-financial-close.html "FAST-TRACK FINANCIAL CLOSE") institutions are planning to connect to RT1 in November while another 70 banks are preparing to join in 2018.” UniCredit is among the 39 [funding institutions enabling the development](https://www.financedigest.com/sommet-education-partners-with-kingdom-of-saudi-arabias-tourism-development-fund.html "Sommet Education partners with Kingdom of Saudi Arabia’s Tourism Development Fund") of the new EBA CLEARING infrastructure, which will provide a pan-European, real-time payment processing engine working 24 hours a day,every day of the year. Starting from November 2017, account-servicing payment service providers (ASPSPs) from across SEPA will be able to use this highly [flexible](https://www.financedigest.com/the-future-of-payments-flexibility-regulation-and-bespoke-models.html "The Future of Payments: Flexibility, Regulation, and Bespoke Models") euro payments solution that is fully compliant with the European Payments Council’s SCT Inst Scheme and in line with the ISO 20022 global messaging standards for real-time payments. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---