Instant payments systems- analysis of selected systems, role of the central bank and development directions

The report Instant payments systems – analysis of selected systems, role of the central bank and development directions has been prepared by the Payment Systems Department of Narodowy Bank Polski for the purpose of the Payment System Council, the opinion-giving and advisory body to the Management Board of Narodowy Bank Polski. Its purpose was primarily to analyse selected instant payments systems in the world and in Poland, and to present the role of the central bank in the field of the creation and development of these systems.

This paper presents a definition of instant payments system, the premises of creating this type of payment solutions and their classification in accordance with the rules of clearing and settlement. An attempt was also made to determine the further development directions of these systems, along with an indication of their role in the national payments infrastructures.

For the needs of this report, a questionnaire survey related to instant payments systems has been conducted by Narodowy Bank Polski, addressed to the Polish banking community and operators of instant payments systems in Poland. The detailed results and conclusions of this study were included in the report. The last section presents the proposal of actions supporting the development of instant payments systems in Poland.

At its meeting on 15 June 2015, the Payment System Council took note of the report and discussed the results of this analysis. The Council approved the proposed actions supporting the development of instant payments systems in Poland and the extension of their reach and availability.

The report was submitted to the operators of instant payments systems operating in Poland and the banking community, with a request to take the appropriate above-mentioned action.

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