The EU Instant Payments Regulation mandates that all euro-denominated account-to-account transfers within the Single Euro Payments Area (SEPA) must settle within 10 seconds, establishing instant payments as the regulatory standard across Europe. This landmark regulation enhances the speed, trust, and innovation in European payments, making real-time payments a default feature and improving the effectiveness and competitiveness of Pay by Bank experiences. Key provisions include mandatory instant transfers, free verification of payee to reduce fraud, equal pricing for instant and standard SEPA transfers, daily sanctions checks post-transaction, and improved access for non-bank payment service providers to key settlement systems. Businesses using open banking platforms like Plaid are advised to consider integrating instant payments into their customer journeys, as they bring opportunities for instant refunds and real-time payouts. The regulation represents a significant shift in the European payments landscape, setting a precedent for non-euro EU countries to follow by 2027 and paving the way for wider adoption of Pay by Bank solutions.