Instant credit transfers will become compulsory with the implementation of a European regulation. All European banks will now be obliged to offer this payment method to their business and private customers, at the same price as a conventional bank transfer. The instant transfer allows funds to be transferred in 10 seconds, compared with 24 hours (or more!) previously with a conventional bank transfer... and that's its great strength! Merchants receive the funds instantly and can dispatch their goods, improving both customer service and cash flow. There's no doubt that the instant transfer will undoubtedly energize the world of payments, and de facto, the business of Fintechs, inclined to seize the latest innovations. Although instant transfers are making progress year on year, there are still many applications to be explored before they become an integral part of everyday life for individuals and businesses alike. 

In addition, Payment Service Providers (PSPs) will soon benefit from PSD3 and PSR (Payment Services Regulation). This new European regulation will clarify the liability regime between fintechs, banks and their customers, to the benefit of all. It's a safe bet that this precise framework of responsibilities will boost the performance of existing APIs under PSD2, as banks will be required to communicate information even more fluidly to regulated players such as fintechs.

Finally, a scheme (European contract) and two other key texts are currently being prepared. The first, to be introduced by the European Payments Council in 2023, concerns premium APIs, which will be fee-based functionalities added to existing APIs resulting from PSD2. They could enable other types of service (for example, the current SIP enables immediate or deferred credit transfers, but does not allow an amount to be pre-booked on an account, like a bank card imprint system). The others concernOpen Finance, which would extend access to payers' financial data to financial data not necessarily linked to payment accounts (savings accounts, for example). The aim is to offer solutions that are even more adapted to the market, and to improve the fight against fraud. Here again, significant progress could be made: PSPs will be able to collect customer data very quickly and automatically, with the customer's consent, and thus become key players in the credit market, able to respond almost instantaneously to financing needs. Furthermore, the regulation on the digital euro will enable the European Central Bank to create a new currency, which could be directly accessible to payment institutions.