The service begins with which it will be possible to make a transfer of up to 15 thousand euros obtaining its credit to the recipient’s account in about 10 seconds. It is the great financial revolution that goes by the name of instant payment and that, strange to say given our delays in digital payments, was born with the imprimatur of an Italian company.
In fact, it was Sia, an interbank company for automation, a company led by Massimo Arrighetti, founded in 1977 and which has always been at the forefront of technological innovation in the financial field, that designed the telematic infrastructure on which the new instant transfer service is based.
The objective of the new instrument
At the origin of the new service of instant payment there is the need, now become urgent, to shorten the time between the commercial logistics, that is the material delivery of objects purchased perhaps online, and the credit to the manufacturer of the relative payment transfer.
Just think that today, in the face of payments that take even more than three days to become effective, there are deliveries that take place in the day. Hence the push to create a service that will improve relations between companies, because it will greatly reduce the so-called commercial risk, ie the assumption that someone does not pay or pay very late, a commodity purchased.
All the advantages
However, the positive aspects of instant payment are not limited only to commercial relations between companies. Individual citizens will also benefit greatly. Just think, for example, of the need to pay a bill in time before the relevant service, be it electricity, water or gas, is disconnected.
But the advantages do not end there, since in addition it will be possible to make payments at all hours of the day, 7 days a week and 365 days a year.
We are undoubtedly talking about an absolute novelty and therefore at the moment there will not be many banks that will make the service available, which will certainly have to pass an initial phase of practical experimentation.
In any case, the current accounts concerned will be those of the so-called Sepa area (Single euro payments area) or those falling within the 34 countries belonging to the Single Euro Payments Area. In addition, in this first phase, about twenty credit institutions from nine countries will join.