New BBVA Directa service leverages Iberpay’s OCT Inst rail for 24/7 instant inbound payments to Spain

New BBVA Directa service leverages Iberpay’s OCT Inst rail for 24/7 instant inbound payments to Spain

(IN BRIEF) BBVA has launched a new instant payments service that allows banks outside Europe to send funds to Spain in seconds, operating 24/7/365 with real-time settlement via Iberpay’s One-Leg Out Instant Credit Transfer scheme. Through its BBVA Directa platform, payments are processed without technical changes required from issuing banks, with beneficiaries receiving funds instantly and tracking available through SWIFT’s GPI system. The service strengthens cash management for companies, improves reconciliation, and enhances the customer experience. Spain’s early adoption of OCT Inst has positioned it as a leader in instant payments, with BBVA emerging as a key intermediary supporting corporates, SMEs, retail clients, and financial institutions in global transaction banking.

(PRESS RELEASE) BILBAO, 17-Sep-2025 — /EuropaWire/ — BBVA has introduced a new instant payments service that enables financial institutions outside Europe to transfer funds to Spain in a matter of seconds, regardless of the time or day. This new solution enhances efficiency for sending banks, provides instant fund availability to recipients, and supports corporates in optimizing treasury management while offering retail customers a seamless and reliable payment experience.

The service is powered by Iberpay’s One-Leg Out Instant Credit Transfer (OCT Inst) infrastructure and is delivered through BBVA Directa. It processes inbound cross-border payment orders to Spain in real time, operating 24/7/365 with no cut-off times. Transactions are completed within seconds and can be fully tracked via SWIFT’s GPI Tracker, giving banks and their clients visibility from end to end.

Sending banks retain full control over how they route payments, allowing them to optimize both liquidity management and transaction costs. Beneficiaries receive the funds immediately without requiring any additional technical developments on the part of the sending institution, as BBVA automatically maps orders to the OCT Inst standard and executes settlement instantly. This significantly improves reconciliation processes for companies and strengthens cash flow management.

Spain has established itself as a European leader in adopting instant payment frameworks, with Iberpay at the forefront of implementing the OCT Inst scheme. Within this ecosystem, BBVA has emerged as an early and active participant, positioning itself as a key intermediary for international financial institutions. This step highlights BBVA’s dedication to expanding its global transaction banking offering and supporting the evolving needs of retail customers, SMEs, corporates, and institutional clients.

BBVA continues to drive innovation in financial services by combining industry-specific solutions with advanced technologies such as artificial intelligence, data analytics, and agile digital tools. Its commitment to anticipating client needs and delivering tailored services further strengthens its role as a trusted partner in the rapidly expanding cross-border instant payments market.

Media contact:
913 746 000

SOURCE: Banco Bilbao Vizcaya Argentaria, S.A.

MORE ON BBVA, ETC.:
EDITOR'S PICK:

Comments are closed.