Payment systems around the world are changing fundamentally to meet a growing demand for immediate payments and increasingly digital solutions. Instant Payments are set to drive the most significant transformation in the global payment landscape, as customers are expecting convenience and security as well as rapid, instantaneous processing of all their transactions. Instant Payments are the new normal.
Instant Payments means paying or receiving payments instantly. Instantly means within a few seconds, anytime, 24/7 365 days a year. Instant Payments are also known as 'immediate payments' and 'real-time payments'. It is the ability to move funds instantly, clearing the transaction and crediting the payee's account with confirmation to the payer within seconds of payment initiation, between people, businesses and government authorities.
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