What does "Payment initiation channel" mean under the Instant Payments Regulation?
Any method, device or procedure through which payers can place payment orders with their PSP for a credit transfer, including online banking, a mobile banking application, an automated teller machine, or in any other way on the premises of the PSP
Last updated: 22 August 2026.
The Instant Payments Regulation is Regulation (EU) 2024/886, which amends the SEPA Regulation. Euro-area banks have had to send instant euro credit transfers and offer Verification of Payee since 9 October 2025. Payment institutions and e-money institutions have until 9 April 2027. Daily sanctions screening replaced in-flight screening on 9 January 2025.
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