The growth of digital in our day-to-day lives has transformed people’s expectations around payments. Instant payments technology in particular has driven global consumer demand to be able to pay and be paid in real time, putting the onus on market infrastructures to meet these expectations.
Whilst instant payments initiatives have initially centred around domestic retail payments, these are expected to evolve into the corporate, B2B segment and cross-border space. Regulations, such as PSD2 are also driving innovation and new business models, while market initiatives, such as ISO 20022 standardisation are promoting collaboration and harmony.
Although approaches can differ, the key requirements and desire are the same – to deliver instant value, increase payment efficiency and to boost innovation.
SWIFT for instant payments
Find out how SWIFT is leveraging our expertise in payments to facilitate real-time initiatives.
The New Payments Platform
Hear how SWIFT has revolutionised payments in Australia.
Our latest insights on instant payments
14 May 2018: Italian financial community discuss challenges and opportunities in the new payments landscape
They discuss how SWIFT gpi and instant payments are transforming the customer experience and what opportunities these developments will offer to the financial industry.
21 March 2018: The City UK report: UK Turkey FinTech Working Group
Case studies and insights.
14 February 2018: SWIFT revolutionises Australian banking with real-time payments
With New Payments Platform delivered on time, SWIFT highlights next steps of global instant payments strategy in Europe, Asia and the Americas.
12 February 2018: SWIFT confirms its commitment to TIPS and ESMIG at ECB event
SWIFT attends the ECB TIPSapp event in Frankfurt.
12 February 2018: The new payments landscape
On 16 January 2018, banks and corporates from across the Luxembourg financial industry gathered to discuss how SWIFT gpi and instant payments are transforming the customer experience.
8 November 2017: Reaping the rewards of instant payments takes work
The key benefits of the instant payment systems being rolled out in Australia and in Europe were discussed at Sibos, Toronto 2017 at the Instant Payments Over SWIFT session in the SWIFT Auditorium.
Sibos 2017 write up: Instant payments over SWIFT
Panellists: Nigel Dobson, general manager, ANZ, Elie Lasker, SWIFT, Mehdi Manaa, Dept. Manager ECB and Hays Littlejohn, EBA Group.
6 November 2017: SWIFT to support instant payments in Hong Kong
Hong Kong banks will be able to use SWIFT to connect to the upcoming Faster Payment System.
11 July 2017: SWIFT offers an instant payments messaging service
The launch of the SWIFT instant payments messaging service for Europe in November 2018 will coincide with the launch of the pan-European real-time payments service being built by the European Central Bank (ECB).
28 June 2017: Instant Payments is coming to Europe
Carlo Palmers and Isabelle Olivier from SWIFT talk about the company’s instant payment strategy.