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Real-Time Payments

A Perficient Strategic Position

A New Frontier for Money Movement

Elias Lopez
Elias Lopez
Director, Financial Services, Perficient

What Are Real-Time Payments?

Real-time payment systems facilitate fast and secure transactions that allow individuals, businesses, and financial institutions to transfer money in real time. These systems operate 24/7 and can be accessed through various channels, including online banking, mobile applications, or payment service providers.

Real-time payments enhance the speed, convenience, flexibility, efficiency, and transparency of money movement.

Countries and regions around the world have implemented their own real-time payment systems, each with its own set of rules, data formats, regulations, and infrastructure. Most of these systems rely on a common data format, ISO 20022, which ensures a richer data structure and global interoperability for financial institutions.

Real-Time Payment Diagram with six features.

Ultimately, real-time payments stand as a point of differentiation and even revolution for institutions, enabling digital transformation in areas such as ecommerce, mobile banking, and financial technology (FinTech). As real-time payments continue to evolve and expand, they are expected to play a crucial role in the future of the financial services industry.

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Reach out to us to schedule a real-time payments briefing or readiness consultation.

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