P2P mobile payments in Europe using only the euro 's mobile phone number as proxy for their IBAN number will be possible by the end of the year , the European Central Bank ( ECB ) has said . The ECB and central banks based on the euro , who together form the Eurosystem , expect that the service will not be restricted to national IBANS , Yves Mersch , executive board member of the ECB , said . Payment service providers are also being encouraged by the euro to make instant payment services available across Europe by November 2017 .
P2P mobile payments in Europe using only the payee's mobile phone number as proxy for their IBAN number will be possible by the end of the year, the European Central Bank (ECB) has said. The ECB and central banks based on the euro, who together form the Eurosystem, expect that the service will not be restricted to national IBANS, Yves Mersch, executive board member of the ECB, said. Payment service providers are also being encouraged by the Eurosystem to make instant payment solutions available across Europe by November 2017.