Italian bank UniCredit has launched cross-border instant payments solution in Italy and Germany immediately after European instant payments infrastructure went live.
With this launch, UniCredit has become the first bank to offer real-time payments in Germany and the first to use the format for a cross-border payment.
Currently, the European Payments Council (EPC) has put a limit of €15,000 per transaction.
Gianfranco Bisagni, global co-head of CIB at UniCredit, said: “After a very focused development and implementation process, the official launch today is a proud moment for us.
“We have always aimed to lead the way on developing instant payments solution for our clients and we are excited about the benefits this new service will bring to our clients – promoting speed and transparency through 24-hour, 365-days-a-year coverage and real-time notifications of successful payments.”
UniCredit said that after one week of live operation in the European instant payments infrastructure, outbound payment execution will be available in Germany starting from 27 November 2017, while outbound payment execution in Italy will be available from 22 February 2018.