What will Instant Payment bring?

At the moment, you can read more and more about Instant Payment, a process that will bring about lasting changes in the payment industry. This is an innovation in the payment area, where normal bank transfers are carried out within a few seconds, IE in real-time. This new payment option is then possible directly from the bank account, so it does not require any further services in between and is even possible internationally. The starting shot for the Instant Payments could even fall by the end of this year! At least in theory.

Payment is always a big issue in all online industries. Secure and easy payment for customers must be guaranteed on the one hand. On the other hand, of course, the providers also want to be sure that there will not be any breakdowns, because each cancellation of a payment costs a lot of money. Sharing the interests of both parties is anything but easy. With the instant payment, however, it could fold. Because here, the customer transfers the money himself, so the payment is done in any case, and no additional service is necessary, which stands between customer and supplier.

Particularly in cross-country payments, instant payment can be a great relief and save time as well as many fees. However, everything remains to be seen, how quickly the new payment option can be implemented. Initial tests are planned for the end of the year, but spreading will take much more time. With regard to the spread of digital currencies, the question is whether it is not too long before all banks offer instant payment for their customers.