Saudi Arabia vs Euro Area · Real-time payment systems compared
| Capability | Sarie | SEPA Instant |
|---|---|---|
| QR Code Payments | — | — |
| Wallet Support | — | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | ✓ |
| ISO 20022 | ✓ | ✓ |
| Request to Pay | — | ✓ |
| Open API | ◐ | ◐ |
| Alias/Proxy | ✓ | ◐ |
Saudi Arabia's instant payment system launched by the Saudi Central Bank (SAMA) as part of the Vision 2030 digital transformation agenda. sarie (meaning "fast" in Arabic) enables 24/7 real-time transfers between banks and fintech providers via IBAN or mobile number, with settlement in seconds. Built on ISO 20022 messaging, it supports P2P, P2M, and bulk payments. The system is a key enabler of Saudi Arabia's goal to increase non-cash transactions to 70% by 2030.
Pan-European instant credit transfer scheme enabling payments across 36 SEPA countries in under 10 seconds, 24/7/365. Transactions clear through the ECB's TIPS platform or EBA Clearing's RT1 system, with a maximum amount of €100,000. The EU's Instant Payments Regulation (IPR) mandates all eurozone banks to offer SCT Inst by 2025, dramatically expanding reach. Built on ISO 20022, it represents the largest cross-border instant payment zone in the world by number of participating countries. Wero, the digital wallet launched by the European Payments Initiative (EPI) in 2024, runs on SCT Inst rails — Wero transactions are included in these figures.