Speaking at a payments forum hosted by Finland's central bank, ECB board member Fabio Panetta notes that on the operational side, the Eurosystem has taken steps to ensure the pan-European reach of instant payments by the end of 2021 through the Target instant payments settlement service (TIPS). "But we know that the private sector, by contrast, has made far less progress on this front," he contends. "The next step is for payment service providers to offer instant payments at attractive and transparent conditions." This means that prices should be neither excessive nor hidden to consumers, Panetta says, pointing out that the cost for service providers of using TIPS is 0.20 eurocent (€0.002) per instant payment transaction. However, instant payments are sometimes offered to consumers for €1 per transaction.

https://www.finextra.com/newsarticle/38082/european-central-bank-castigates-banks-over-instant-payment-fees