STET Instant Payments Rapid Take-off
STET is happy to announce that its Instant Payments CSM has reached the first 40 million SCT Inst transactions processed since its commercial launch.
La Défense, 23rd September 2019
STET’s Instant Payments CSM is a new state of the art platform combining the efficiencies and performance of on-line processing with the resilience and security delivered as a leading SIPS processor in Europe.
The Instant Payments CSM was launched in November 2018 and volume ramp-up begun with the commercial launch of SCT Inst by the PSP participants. Eighteen major PSPs from France and Belgium are today connected to the Instant Payments CSM, offering SCT Inst coverage to an estimated 85% of accounts in those countries.
STET’s Instant Payments CSM average transaction processing time is 80 milliseconds and has been benchmarked to handle the full impact of a potential migration from SCT to SCT Inst.
STET continues to build on the Instant Payments launch by delivering to the market a Mobile Proxy look up service for P2P, Single Window to extend reach through connections to TIPS & RT1 and Fraud Scoring risk mitigation tools.
“STET’s Instant Payments solution / infrastructure is ready from day one and we are actively working with two national communities to bring Instant Payments to over 400 PSPs operating in these communities,” said Jean-Marie Vallée, CEO of STET.
“Our Instant Payments CSM is obviously fully compliant with the EPC SCT Inst scheme but we have gone further in building a lot of flexibility in the system to allow for national variants and future evolution”.
This new offering will complete STET’s service range consisting of “Multi-CSM” for SEPA and non-SEPA instruments including cards authorisation and clearing.