How to seize the instant payments opportunity
Instant payments offer benefits beyond speed, leading more businesses to adopt the service, but insufficient infrastructure prevents many financial institutions from fully utilizing it, and payment verification processes must adapt to the digital world.
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The benefits of instant payments go beyond speed. Liquidity management is significantly improved as the payments are final, irrevocable, and confirmed immediately. Together with the enhanced digital experience, this explains why an increasing number of businesses of various sizes are looking to leverage new instant payment services. Yet, although instant payments are experiencing rapid growth worldwide, many financial institutions still lack the infrastructure necessary for seizing this opportunity and for meeting their business customers’ needs. Also, as immediate Payments are just that immediate, the processes applied in checking the payments need to change to adopt to the digital world.
