EU adopts regulation on instant payment

BRUSSELS, Feb. 26 (Xinhua) -- The Council of the European Union (EU) approved a regulation that will allow payments in euro-denominated currency to be made within 10 seconds in the European Union, according to a press release on Monday.

People are able to transfer money at any time of the day, even outside of business hours, and both within their own country and towards another EU country, said the council.