On Wednesday 26 October, the European Commission adopted a legislative proposal to make instant euro payments available to all individuals and businesses with bank accounts in the European Economic Area, which includes the 27 EU Member States, Iceland, Liechtenstein and Norway.
“This should have happened organically, but it didn’t. I want to unleash that power, because it might take a decade to become the norm”, explained Mairead McGuinness, EU Commissioner for Financial Services,...