New service in Eurobank
19 October 2018.
EUROBANK ROLLS OUT INSTANT PAYMENTS
Eurobank has enabled its customers to make instant payments at its branches, as well as via e-banking or m-banking services, as of 22 October 2018, complying with the decision of the National Bank of Serbia (NBS).
Eurobank customers will be able to initiate instant payments on digital channels 24 hours a day, seven days a week. Thanks to the instant payment system, the funds become available to the payee in virtually real time, within a few seconds. This enables the Bank’s customers to make payments or receive funds on their accounts in nearly real time and use them without restriction. The system can be used to transfer money in dinars by individual transfer orders/payment orders of up to RSD 300,000.
In line with this novelty and recognizing its benefits, Eurobank is working to launch an additional service that will allow customers to make/accept instant payments at points of sale by scanning the Quick Response (QR) code. In addition, customers will be able to receive information via digital channels about their monthly commitments for utilities or other services and complete payments in a few clicks. After setting up the NBS Central Address Scheme, which will store unique identifiers (e.g., mobile phone number) of payment service users, with the users’ explicit consent the payer will be able to use this one piece of information to quickly and simply transfer funds to the payee account in an innovative way.
At the moment, instant payments are the world’ most advanced form of payment, and the most popular way of initiating them is by using mobile or electronic banking apps. This makes the payment process much more convenient and faster for payers, while payees can speed up their billing, as well as streamline their business and planning future activities. Instant payments will be of great importance for everyone in the process because as it will — together with payment cards — reduce the use of cash and the risks associated with it.
As always, Eurobank is keeping up with the latest technology developments that expand cashless payments, helping to address the issue of shadow economy and enabling business transparency. The Bank will continue to improve its services and develop new solutions in order to remain a top performer in the Serbian banking industry.