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Timeline known for Instant Payments Regulation

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On 19 March 2024, the European Union officially published the Instant Payments Regulation (IPR or Instant Payments Regulation). The IPR ensures the roll-out of Instant Payments across the European Economic Area (EEA, including EU). This publication marks the end of the European legislative process for Instant Payments. It gives payment service providers within the EEA clarity on the implementation timeline for the various obligations implied by the IPR.

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Virtually all banks within the eurozone must be able to receive Instant Payments from January 2025 and send them from October 2025. Instant Payments have already been the ‘the new normal’ in the Netherlands since 2019 but even so, this EU regulation requires some major adjustments in systems and procedures in the Netherlands too. Payments Association Netherlands has therefore set up several workflows to support members in their implementation.

Visit our extensive webpage on the Instant Payments Regulation for more explanation and for the exact timeline.

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