Banca d'Italia makes payments in euros and in other currencies, for its own purposes or on behalf of third parties; such payments are settled in large-value and retail payment systems and through correspondent banks. To this end, the GEPA single platform makes it possible for Banca d’Italia to manage both its own payment and collection operations and those carried out on behalf of institutional customers (such as the Public Administration and international organizations outside the Euro Area).
The creation of a single procedure responsible for all payments and collections ensures that each transaction is efficiently processed and executed through the relevant settlement circuit.
In accordance with the provisions of Regulation (EU) 2024/886 of the European Parliament and of the Council on instant credit transfers in euro, from the 2nd of December 2024 GEPA has been adapted to receive, through TIPS, collections in SEPA Instant credit transfer format pertaining to Banca d'Italia and to the Public Administration. According to the timeframes set out in the Regulation, by October 2025 GEPA will also be able to send eurodenominated instant payments and to verify that the IBAN provided for a transaction matches the intended recipient's name.
Contacts
Payments and Market Infrastructures Directorate General
Payment Systems Directorate
Payment Services Division
Via Pastrengo, 14 - Rome
Tel: +39 06 4792 4884
e-mail: SDP.GEPA@bancaditalia.it
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