Global instant systems
Instant payment systems beyond Europe and the US: NPP, Pix, PayNow, PromptPay, SPEI, Buna, RTP
Global instant systems beyond Europe and the US: NPP and PayID, Pix, PayNow, PromptPay, SPEI, Buna and RTP.
What You Can Do After This Chapter
Learning objective. Learner explains how NPP, Pix, PayNow and FAST, PromptPay, SPEI, Buna, RTP and SEPA Request to Pay each work, including launch dates, operators, addressing, availability and limits. Learner compares the eight systems on speed, addressing, cost and coverage, and explains when each one is the right rail for a payment.
Practical assessment. Learner receives a case where a business must pay suppliers in Australia, Brazil, Singapore, Thailand, Mexico and the United States, then recommends the instant system for each corridor, explains the addressing, and states the operating hours and the failure handling. Learner also explains SEPA Request to Pay and when it replaces a direct debit.
Expected deliverables.
- Comparison table: eight instant systems
- Corridor recommendation note
- Addressing guide: PayID, Pix key, CLABE, mobile
- SEPA Request to Pay flow diagram
Completion criterion. Learner recommends the correct system for each corridor, explains addressing and availability accurately, and compares the systems on the right dimensions.
- NPP: Australia instant payments and PayID
- Pix: Brazil instant payments by key
- PayNow and FAST: Singapore instant payments
- PromptPay: Thailand instant payments by ID or mobile
- SPEI: Mexico real-time payments by CLABE
- Buna: cross-border instant payments for the Arab region
- RTP: the US real-time payment network
- SEPA Request to Pay: asking for a payment instead of pulling it