European real-time payments have seen historic growth in recent years.
In fact, some European countries like the U.K., Sweden and Finland have even gone a step further to develop internal payment systems to supplement the Single Euro Payments Area (SEPA) Instant Credit Transfer scheme, a pan-European initiative launched in 2017 that enables ultra-fast euro payments across the region.
According to Martynas Bieliauskas, CEO at Swiss FinTech Klarpay, this upward trend has given banks a stronger foothold in the payment acceptance space, where international card schemes like Visa and Mastercard currently dominate.