Transcription of Fast payments - Enhancing the speed and availability of ...
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Fast payments - Enhancing the speed and availability of ...
Committee on payments and Market Infrastructures fast payments Enhancing the speed and availability of retail payments November 2016 This publication is available on the BIS website ( ). Bank for International Settlements 2016. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISBN 978-92-9259-002-4 (print) ISBN 978-92-9259-003-1 (online) CPMI fast payments November 2016 iii Contents Acronyms and abbreviations .. iv Executive summary .. 1 1. Introduction .. 3 2. fast payments : Key definitions and 6 Definitions .. 6 Important additional characteristics of fast payment implementations .. 10 3. The development of fast payments .. 19 fast payments in the context of the broader payment system .. 19 Advances in information technology as a fundamental driver of fast payments .. 21 Potential obstacles related to the implementation of fast payments .
Based on these features, fast payments can be defined as payments in which the transmission of the payment message and the availability of final funds to the payee occur in real time or near-real time and ... and interoperable systems, working under one or various schemes, to more centralised approaches where ...
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