Instant payments

Instant payments – the ability for beneficiaries to receive good funds from senders in a few seconds or less, on a 24×7 basis – are already a reality in many parts of the world. Eighteen countries already have some type of instant payment clearing system in place, with thirty or more in various stages of exploration or implementation. Two of the world’s largest payments markets, the US and the Eurozone, are set to join the instant-payments revolution within the next eighteen months.

Dovetail is at the forefront of these activities and is actively participating with groups such as the ISO Real-Time Payments Group, the European Payments Council Technical Architecture Group, the US Federal Reserve Faster Payments Task Force, International Payments Framework Association, and many others.

Instant payments are set to drive the most significant transformation in the global payments landscape since the introduction of today’s electronic payment mechanisms. Going forward banks will need to make instant payments an integral part of all customer offerings to stay competitive.

So, how can banks capitalize on this changing landscape? The answer lies in modernization and real-time enablement of the bank’s payment infrastructure. In the short term, there will be urgent needs to launch key instant payment services with minimal impact to existing systems. However, in the long term, those banks that shift from multiple legacy systems to a single payment services hub will gain advantage through efficiency, resiliency and time to market.

Dovetail solutions for instant payments

Dovetail offers a wide range of solutions for instant payment processing and connectivity. The solutions are scalable, up and down, across functional and volume needs and offer a high level of personalization to address the requirements of banks and financial institutions across regions, clearings and payment infrastructures.

Dovetail research on instant payments

The Value of Instant
Global Payments Survey by Finextra and Dovetail
Instant Payments Global Survey 2015
Report on a survey by Finextra and Dovetail

Contact us to know more about our instant payment solutions

EMAIL

icon_payments

Dovetail Payment Solution

The Dovetail Payment Solution
offers a unified channel-agnostic architecture for processing
instant and traditional immediate/deferred settlement payments
across all market segments – peer to peer, retail, small business, corporate and institutional.

KNOW MORE

 

Dovetail Smart Gateway Solutions

The Dovetail Smart Gateway Solutions
allow banks to connect to one or more instant clearings with a single
cost effective platform that performs common business functions in a consistent way across channels and clearings,
while supporting clearing specific messaging and protocol requirements on a plug-in basis.

KNOW MORE