Instant payments are electronic retail payment solutions available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee ́s account with confirmation to the payer.
Allow real-time multilateral clearing between the participants, to facilitate the processing of payments to beneficiaries in real-time.
Allow processing and clearing of payments on a 24x7x365 basis.
Allow secure and reliable real-time payments with finality.
Customers should be able to access and use the funds immediately.
Allow the payment initiator and beneficiary to receive instant confirmation.
Provide date and time stamp for each step in the end-to-end payment process.
Allow online liquidity management for direct participants.
Allow calculation and application of several types of fees to be charged from participants.