Digital Instant Payments are replacing traditional clearing systems that often took up to three working days with services that are available 24/7/365 and offer instant settlement and availability of funds for the recipient.

We discuss the features of four of the many schemes being developed and implemented.


This is an instant payment platform created and managed by the Central Bank of Brazil that began operating in November 2020 and enables the quick processing of payments and transfers. It reduces cash transactions and offers a convenient, secure, faster, more affordable, and open alternative to existing payment systems.

EU Sepa Instant Credit Transfer (SCT Inst)

This is the Eurozone instant payment system that was set-up to be available 24/7/365. It should not take over ten seconds to complete the transaction and make the funds available to the recipient.

Unified Payments Interface (UPI)

This is an instant real-time payment system developed by the National Payments Corporation of India (NPCI). It is regulated by the Reserve Bank of India and transfers money instantaneously between two bank accounts on a mobile platform.

PayPal Instant Transfer

This allows users to send money or make a payment from their bank account instantly using PayPal, one of the first digital wallets.