Faster payments for a faster world.

Instant Payments Gateway is a payment innovation that gives people the ability to request, send, validate, and receive payments in real-time. Developed in partnership with the European states as part of the SEPA Instant Credit Transfer scheme, Instant Payments will dramatically increase the speed at which payments are processed, reducing the validation time from 24 hours to 10 seconds.

Key Benefits

Fast

Reduces payment validation time from 24 hours to 10 seconds, with instant notification on transaction status

Non-stop

Instant Payments Gateway services are available 24/7, 365 days a year

Secure

Compliant with all EPC standards and regulatory changes, and offers fraud protection and CTF screening

Multi-Channel

Accommodates web, mobile, and kiosk banking as well as payment over social networks

Benefits for all user groups.

The rise in smartphone use and digital services worldwide has led to a global mindset of instantaneity – now more than ever, both consumers and businesses expect easier and faster services, and payments are no exception. With Instant Payments Gateway, payments and transactions will happen in real-time, 24 hours a day, 7 days a week, regardless of the payment method used (bank transfer, direct debit, or credit card). The certainty of payment and fund availability offers benefits to all user groups.

Banks and PSPs: Improve your value-added services

The Instant Payments Gateway will position banks and payment service providers (PSPs) to increase their relevance in today’s digital market by providing them with a new competitive advantage against major players in the digital payments field. The Instant Payments offers multiple benefits:

  • Promote new customer acquisition
  • Increase retention rates for existing clientele
  • Explore new business opportunities to consumers, businesses, and merchants
  • Allow for faster innovation of service offerings
  • Ability to participate as both a beneficiary and originator bank, or as a beneficiary bank only

Businesses: Improve cash flow and speed up sales

From a business perspective, the adoption of Instant Payments has the potential to optimize business management practices and to expand and improve customer-related services. Potential benefits include:

  • Increase billing efficiency
  • Ensure a faster payment of invoices
  • Make and receive fast payments from their suppliers
  • Improve cash flow
  • Improve e-commerce practices
  • Speed up the checkout processes for customers

Consumers: Split a bill or pay your bills in seconds.

Instant Payments will offer a more flexible and secure way to manage the digital wallets of both consumers and service providers. These use cases include:

    • Peer-to-peer mobile payments
    • Purchase of high-value second-hand goods (e.g. furniture, cars, etc.)
    • Immediate payment of service providers (e.g. payment on delivery, household services, babysitting)
    • Easy management of recurring payments (e.g. rent, water, telephone, internet)

As more and more businesses adopt digital payment methods, consumers will also benefit from the use of smart device payments in-store.

Technical Features

In addition to being totally configurable to the needs of each organization, StreamMind’s Instant Payments Gateway offers a robust and reliable platform to facilitate data management and flow. The key technical features include:

• Native n-tiers architecture that separates GUI instances from the processing engine and storage
• Multi Operating System
• Multi Database Management System
• “In-flight” maintenance to adapt to standard & regulatory changes
• Easy upgrade to new instant payment instruments (SDD Inst)
• “On premise” or “as a service” offerings
• Full compliance with EPC SEPA Instant Payments Rulebook and Implementation Guidelines