The momentum behind Immediate Payments is growing around the world, as more schemes are introduced to mirror the “around-the-clock”, 24/7 real-time reality of today’s commercial environment. In Hong Kong, The Hong Kong Monetary Authority (HKMA) is looking to launch Faster Payment System (FPS) in 2018. HKMA is working with Hong Kong Interbank Clearing Limited (HKICL) to help banks better understand FPS and prepare them for the launch.
D+H is a market leader providing immediate payment solutions – also known as real-time payment solutions, or faster payment solutions – to banks and financial institutions globally. Today, our real-time payments solution supports country and region-specific schemes such as Singapore’s FAST/G3, U.K. Faster Payments Service, and Sweden’s Swish real-time payments. Upcoming schemes include Australia’s New Payments Platform, the pan-European SEPA Instant Credit Transfer scheme, U.S. real-time payments – including The Clearing House’s real-time payments network – and the Hong Kong Faster Payments System.
The countries that have taken the plunge and rolled out Faster Payments or Immediate Payments schemes share the commitment to speed, availability, convenience and information-rich messaging. Immediate or real-time payments, are payments where a customer of one bank initiates a payment to immediately credit an account at another bank — the credit is posted within seconds and a confirmation is sent back to the originating bank in real-time. The momentum behind immediate payments is growing around the world, as more schemes are introduced to mirror the “around-the-clock”, 24/7 real-time reality of today’s commercial environment.
D+H is a market leader providing Immediate Payments Solutions to meet the needs of any financial institution. D+H’s Immediate Payments Hub provides real-time payment capabilities in a full payment hub with payment processing, transformation, routing, and connectivity and accessibility to any scheme. D+H’s Smart Gateway provides transformation, routing and connectivity and accessibility to any real-time payment scheme and integrates with any payment engine, saving time, reducing risk and providing quick time to market.
In 2013, D+H won The Banker’s ‘Innovation in Technology and Transaction Banking Award for Best Payments Technology’ to reflect the role D+H’s immediate payments solution has played as the core processing engine for Bankgirot, a European clearing house operator in Sweden. In 2014, Bankgirot also won a Celent Model Bank award for the real-time payments solution powered by D+H technology.
Immediate/Faster Payments Products
- Global PAYplus - D+H’s global payments solution, Global PAYplus, combines an extensive set of payment services including high value payments, mass payments and immediate payments, in a single consolidated payments hub.
- Immediate Payments - Innovation is Knocking
- Seizing the Immediate Payments Opportunity
- Payments Transformation: The Global Payments Journey
- Real-time Payments: A roadmap for banks
- The Need for Speed: Modernizing Payments with ‘Faster’ Payments
- Payments in the Fast Lane: The Evolution of Real-time Payments in Asia-Pacific