On 9 October 2025, a new instant payment regulation will enter into force across the euro area, revolutionising the speed and security of payments.
What does the regulation mean?
With the new system, all euro-denominated payments will be transferred to the recipient’s account in less than 10 seconds, regardless of the time of day or the day of the week. This makes payments smoother for both consumers and businesses.
Increased security with name verification
At the same time, a new security feature will be introduced: banks will verify that the recipient’s name matches the account holder’s details. If the name entered by the payer does not match the account information, the system will alert the payer before confirming the payment.
This verification reduces the risk of erroneous payments and fraud, as the payer is immediately warned of any discrepancies.
Why is this important?
· Speed: money arrives within seconds, no more waiting for banking days.
· Security: name verification helps prevent misuse.
· Convenience: works every day of the year, at any time of day.