Here are the different steps involved in instant payment, from initiating the payment to confirming its successful execution.

Payment initiation: The sender initiates the payment via their banking app or online payment service. Instant payments apply to SEPA credit transfers in euros, provided the beneficiary’s bank supports the service.
Transmission and processing: The transfer is routed through the payment network. Funds move quickly from the sender’s account to the recipient’s account.
Credit and notification: The recipient’s account is credited within 10 seconds, and the sender receives a confirmation. In some cases, reference messages or receipts may be provided for easier traceability.
Availability and security: Instant payments are available 24/7 and rely on strong customer authentication mechanisms. However, unlike a standard transfer, which can be blocked by the bank within four hours of execution in case of suspected fraud, an instant payment cannot be stopped once confirmed.