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The Single Euro Payments Area’s (Sepa) instant credit transfer scheme (SCT Inst) went live on Tuesday, enabling payments to be made between European countries.
The first payment carried out was by UniCredit between Germany and Italy, taking just 2.5 seconds.
Although marking a milestone in the movement of instant payments, and the first time that an instant payment has been made in Germany, the transactions takes place between countries with the same payments framework and the same currency.
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