Flavours Of Fast


Since our last report, 15 countries have launched faster payments schemes; there are now a total of 40 countries who have live schemes around the globe.

This year in faster payments has been all about growth—with the number of faster schemes around the world, and the volumes on them. We’ve long said at FIS that faster payments are about more than speed. 2018 is the first year we’ve really seen that come to life.

- Serena Smith

International Group Executive, FIS Payments



After several years of planning, Australia’s New Payments Platform (NPP) went live in February 2018. Since that time, NPP has expanded to include six retail banks and three banking service aggregators that support more than 40 smaller institutions. While the initial registration for the service has been strong, wider availability and the advent of value-adding overlay services is expected to accelerate growth.


The Clearing House launched its new real-time payments system RTP, open to all U.S. financial institutions, in November 2017. As of May 2018, eight banks were all live in the system. There is no mandate for faster payments in the United States, but 2020 is the goal year identified by the Federal Reserve Faster Payments Task Force.

The first new major payments infrastructure since the ACH in the 1970s, RTP is built to support digital commerce and become a platform for innovation. In addition to settling payments in seconds, RTP includes features like payment confirmation and request for payment that enable pull payments to deliver bills and invoices through digital channels.

Financial institutions that waited too long to involve important areas such as regulatory compliance, risk management, information security, legal counsel or customer service operations found themselves having to go to extraordinary lengths to catch up and avoid delays. If you wait until you are feeling market pressure, you may be too late to avoid competitive disadvantage.

Steve Ledford

SVP Products & Strategy at The Clearing House

Read an exclusive interview with executives from The Federal Reserve, The Clearing House and BB&T, an early adopter of RTP, on page 26 of the full report.


The European journey toward instant payments has formally begun with the launch of Instant SEPA Credit Transfer (SCT Inst) in November 2017. By mid-2018, these countries have banks adhering to the SCT Inst scheme: Austria, Estonia, Germany, Italy, Latvia, Lithuania, the Netherlands, Spain, France, Portugal, Malta, Bulgaria, Sweden, Belgium and the UK.

15 countries
Countries With Banks Adhering to SCT Inst
34 countries
Countries Expected to Use SCT Inst by 2019

Banks in Belgium, Finland, Malta, Poland, the UK, Sweden and other countries will be coming online throughout 2018 and 2019, to progressively span more than 34 European countries. The hope is that SCT Inst will become the primary scheme for all euro transactions, making instant the new normal.