Instant transfer: what use cases in e-commerce?

The Banque de France is launching an awareness campaign aimed at individuals but also at professionals and merchants/e-merchants to promote instant transfers. Fevad is associated with it as many use cases are also emerging in e-commerce. Overview of this new payment method that doesn’t lack advantages!

Officially launched four years ago, instant transfer has yet to find its place in France. Remember that instant payment allows you to make a payment from account to account in real time, theoretically with no amount limit, while a traditional transfer can take a day, or even several days internationally. more precisely that allows you to transfer money to another bank account in less than 10 seconds. This service operates 24/7 in France, but also in many European countries..

Instant handoff: for which use cases?

Instant transfer is particularly suitable for payments between individuals as it allows immediate payment to the nearest penny and offers a guarantee of receiving funds. Examples of use cases between individuals include:

  • Refund a meal or other cash advance: When one person pays for a group, it can be refunded by everyone instantly
  • Sale between individuals: the buyer instantly pays the value of the property, which offers a guarantee of payment to the seller

It is also intended to replace the check in the context, for example, of the home intervention of a craftsman or the payment of a liberal profession: the professional traveling for a private individual can accept an instant transfer without any special equipment.

And in e-commerce…

In e-commerce, instant transfer begins to be used mainly for refunds, but not only. In some sectors it has the advantage of being able to pay large amounts (subject to limit set by the payer’s bank) which are sometimes problematic due to card limits. This is the case of travel, for example, or domestic equipment, or even the luxury sector.

Other advantages are associated with instant transfer:

  • The payment guarantee to the beneficiary as the funds instantly arrive in your account
  • Better cash management for the payer that can check the balance of your accounts in real time
  • A high quality user experience, in particular for emergency situations (disaster, need for money).

A payment method encouraged by the regulator

Fast, practical, simple and innovative, instant transfer is, in accordance with the wishes of the European Commission, destined to become the new payment standard in Europe. Fevad actively supports its development and encourages users, merchants and customers to take ownership of it.

To illustrate the benefits of this form of payment for companies and individuals, two videos produced as part of the National Committee for Cashless Payments (CNPS) / Banque de France in which Fevad participates can be consulted on the Banque de France website.

You can also see Verbatim from a major e-merchant here:

To learn more about instant transfers…

Finally, to think about its implementation on their websites or payment or refund process, approach your payment providers, most are starting to integrate it into their e-commerce offerings.

To contact Fevad’s top PAT (Payment Acceptance Service Provider) members, you can refer to the Fevad directory: https://www.fevad.com/categories-prestataires/psp/

You can also consult customer cases with more specialized service providers that we have collaborated with during recent webinars:

Overview of the new payment players

Finally, to top it off, the ACPR (Authority for Prudential Control and Resolution / Banque de France) has just published a complete overview of the new payment players that can also open up avenues of reflection for new payment paths.

> Download here


Contact fevad about these topics: Bertrand Pineau / bpineau@fevad.com

Leave a Comment