Amendments to the SEPA Regulation (EU)
260/2012 regulating instant credit
transfers in euro (Instant Payments Regulation –
“IPR”) are slowly coming into force, the
next recent date being the 9th of October 2025. The IPR was
implemented in 2024 and provides mandatory requirements for payment service providers (“PSPs”) in instant credit transfers made
in euro, verification of payees (“VoPs”) and sanctions
screening.
Through the IPR, ‘instant' credit transfers in
Europe are revolutionised making them the go-to solution to
immediately transfer credit at any time. One key amendment to the
IPR relates to the VoP where PSPs within the Eurozone
must provide payers with a service to verify the payee's name
and IBAN whenever a transfer is initiated.
