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.
Instant payments in Europe
Carlo Palmers and Isabelle Olivier from SWIFT explain our vision for instant payments.