Around the world, new Instant Payment schemes are taking over – both domestically and across borders.
Instant payments (IP) have advantages for everyone. Consumers love the speed and convenience of being able to pay right away and seeing transactions complete within seconds, rather than hours or days.
Meanwhile, 2019 research from Deloitte shows how IPs reduce the cost of transactions for businesses by up to half, with businesses and governments carrying much less “dead” cash to cover outgoing payments because their bills are settled immediately.
In turn, that enables these organizations to invest funds in future growth, rather than sitting on account.
Radi El Haj, CEO of RS2, explains why banks need to grasp the instant payments opportunity – and how they should manage the serious risks that are emerging in this new environment.
Find out more. Download Why banks must prepare for an Instant future.
