Instant Payments

STET has served as Instant Payment provider for France and Belgium since 2018. Instant payments are being driven by regulation, competition and market demand… and are set to become the new normal.

Instant Payments fundamentally transform the way the money is processed, impacting consumers, businesses and governmental institutions, while triggering up opportunities for innovation.

To meet these evolving demands, STET has developed a next-generation CSM built for the future. Based on our highly resilient and secure clearing infrastructure, along with an equally secure and robust 24/7, real-time messaging platform, this system is scalable to pan-European levels and enables the clearing and settlement of instant payments within seconds.

The Main Features of the SCT Inst Service:

  • 24/7, real-time instant messaging, based on our high-speed processing experience.
  • Sub-second CSM processing time
  • Orchestration of business and technical message flows, including timeout management and reporting
  • Instant multilateral net clearing, using mirror accounts that reflect the collateral provided by participants to guarantee settlement
  • Multilateral net settlement through TARGET2 via ASI interfaces
  • Integrated clearing and settlement components, supporting collateral and liquidity management, including alerts
  • Web services providing online operational and treasury information

Value-Added Services Available to Participants:

  • Fraud scoring, using our card fraud scoring tools
  • Proxy database, enabling the secure retrieval of BIC/IBAN using a mobile number
  • Tokenization for sensitive data
  • Reporting/clearing and settlement of transaction value date mismatches
  • Highly competitive pricing, backed by our strong market position

Single Window for Instant Payments (SWIP)

The SWIP Service provides French and Belgian participants with a significant competitive edge. Through a single access point to the IP CSM platform, participants benefit from full reachability with any EU counterpart, whether via TIPS from the ECB or via RT1 from EBA Clearing.