Ljubljana – Starting October 9, all banks, savings banks, and payment service providers across the EU will enable clients to make immediate domestic and cross-border payments and transfers in euros through all available channels. The Bank Association of Slovenia emphasized the enhanced security and speed of these payment executions prior to this implementation.
Stanislava Zadravec Caprirolo, the Director of the Bank Association of Slovenia, stated that the introduction of immediate payments will come with a mechanism to verify the alignment between the recipient’s name and their International Bank Account Number (IBAN) for added protection, along with an option to set a maximum permissible payment amount.
With these changes applicable EU-wide, all banks, savings banks, and payment service providers will be mandated to facilitate domestic and cross-border immediate euro payments through all channels currently used for payment transactions.
In Slovenia, the Flik service, already utilized by around 800,000 users, facilitates immediate money transfers via smartphone, although it is limited to users within local banks, according to the bank association. Currently, over 80 percent of all transactions in the Single Euro Payments Area (SEPA) in Slovenia are executed immediately. (October 2)
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