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    real-time payment infrastructure

    Instant Payment Service

    Keep pace with the speed of life with Instant Payment Service – the most advanced, functionally rich solution for real-time bank account-based payments

     

    managed service

    Instant Payment Service is available as a managed service, which improves operational efficiencies and helps to unlock a future of growth and opportunity

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    Send and receive payments instantly
    Our real-time switch enables immediate transfer of funds via a secure API gateway

    Keep transactions safe and secure
    Combat financial crime with a secure gateway, and network-level fraud and AML solutions

    Maintain robust, reliable availability
    Designed to handle high payment volume, the platform efficiently scales with demand

    features

    The components of our managed service provide additional features and functionality, with back office support for associated activities, such as liquidity management and risk controls 

    Instant Payment Service

    Provides real-time clearing and settlement of transactions. Supports ISO 20022 data standards to facilitate and add value across use cases and applications.

    Multi Proxy Service

    Allow people and businesses to send and receive payments using an alternative recipient identifier, such as a mobile number, email address or corporate or citizen ID.
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    Bulk Payment Service

    Upload bulk payment instructions to pay individually or in a batch. Pay immediately via real-time infrastructure, or schedule for any future time.
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    use cases

    Our service uses ISO 20022 data standards to facilitate and add value across payment and non-payment transactions

    Person to person

    Person to business

    Person to government

    Business to person

    Business to business

    Government to person

    how it works

    Transactions settle immediately and funds are instantly accessible, compared to traditional ACH systems that require longer

    Real-time payments flow with Instant Payment Service

    case studies

    Instant Payment Service powers economies around the world

    Faster Payments in the UK
    The UK Faster Payments service runs on Vocalink’s real-time payments infrastructure, enabling consumers and businesses to make immediate payments 24x7, 365 days a year.
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    FAST in Singapore
    We helped the Singapore payments industry realise its bold ambition of implementing immediate bank transfers and debit requests as part of the FAST service.
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    PromptPay in Thailand
    Vocalink helped transform payments in Thailand, providing a real-time payments infrastructure and mobile application that has enabled greater financial inclusion.
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    RTP® in the US
    In 2016, Vocalink signed a contract with The Clearing House (TCH) to develop a national real-time payments service in the US. The RTP network went live in November 2017.
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    Frequently asked questions

    What are real-time payments?

    Real-time payments, also known as real time payments, immediate payments, instant payments or faster payments, guarantee immediate availability of funds to the recipient.

    There are a number of pseudo-real-time payment solutions are available to the market, which post immediately, but major variations occur with the frequency of settlement, which can be in real-time or periodically throughout the day.

    What are the benefits of of real-time payments?

    Real-time payments offer wide-ranging benefits for people, businesses and society. Real-time payments:
    • guarantee immediate availability of funds to the recipient
    • support better cash management and improved visibility of balances
    • ease the transition to electronic payments by providing a viable alternative to cash

    What are ACH payments?

    ACH, which stands for automated clearing house, is a payment infrastructure for bank account-to-account payments. ACH systems can be real-time, but are typically slower and have discontinuous operating hours: bulk ACH systems post payments within hours or days of payment initiation.

    real-time applications

    Our real-time payment applications, which are ready to deploy, make it easier for people to pay and get paid

    Pay by Account

    Allow people to pay in-store or online from a bank account or digital wallet using their financial service provider's app.

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    Bill Pay

    Allow people to view, manage and pay household and other personal bills within their financial service provider’s banking app.

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    Financial crime solutions

    Our award-winning financial crime solutions leverage connected intelligence to help our customers better verify payment requests and recipients to prevent fraud and money laundering in real-time.

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    Data analytics & consulting solutions

    We offer technical advice and analysis to support your real-time payment project throughout its lifecycle, from project initiation to effective operation.

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