Eva Jančíková
Stanislava Veselovská
 
niversity of Economics in Bratislava, Faculty of International Relations, Dolnozemská cesta 1, 852 35 Bratislava 5, Slovakia
Pan-European university, Faculty of Economics, Tematinska 10, 851 05 Bratislava 5, Slovakia
DOI: https://doi.org/10.31410/ITEMA.2018.526

2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4

Abstract
The banking industry is under permanent pressure for innovation of banking services and banking products. In 2014 all members of Eurozone implemented new payment system developed under Single Euro Payment Area project (SEPA). SEPA project harmonizes the way euro payments are made across Europe. In 2016 other member states of European Union joined this platform. SEPA allows consumers, businesses and public administrations to make and receive credit transfers, direct debit payments and credit cards under the same basic conditions. SEPA credit transfer is realized in one banking day. The non-banking competition in payments pressed banks to go further and the result was the implementation of first SEPA instant payment in 2017 realized in max. 10 seconds. The Society for Worldwide Interbank Telecommunication (SWIFT), which is one of the most important institutions accelerated innovations in international payments, offers a new cross border payment system known as SWIFT global payments innovation (SWIFT gpi).  The aim of this paper is to define innovations in payments, especially: SEPA instant payment and SWIFT gpi. To achieve this aim we are using qualitative methods such as analysis, synthesis and comparison. 
Key words
SWIFT gpi, SEPA instant payment, Application Programming Interfaces, Distributed Ledger Technology, Artificial Intelligence in Payments, Ripple X-Current
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