Real Time Payments - NovoPayment

REAL-TIME PAYMENTS

THE NOVO WAY

With NovoPayment, real-time payments are simple, seamless, and supported
by the breadth of our extensive BaaS suite.

Real-Time Payments (RTP) are payments made through a real-time payment network, which settle within thirty minutes, all hours of the day, every day of the week, and any day of the year (including holidays).

RTP are unique not only in speed, but through the utilization of the ISO 20022 messaging standard, they also offers end-to-end communication between payer and payee. Unlike other payment rail, real-time payments are final and largely irrefutable.

There are many real-time payment networks globally. The biggest players in the US are TCH RTP Network, Visa Direct, and Mastercard Send.

WHY REAL-TIME PAYMENTS

Source: Citizens Bank

Source: KBV Research

Source: Deloitte

REAL-TIME PAYMENTS:
THE CATALYST FOR
FINANCIAL INCLUSION

Real-time payments (RTP) are changing the way we transact in today’s digital economy. While the benefits are wide-reaching, real-time payments can help catalyze financial inclusion on a global scale.

READY TO EXPLORE?

PERSPECTIVES

"Investments in instant payments have begun to reap greater benefits, both in POS and e-commerce usage of instant solutions. The trend comes in response to customer expectations for speed, price differences, and greater adoption of customer-facing applications..."

McKinsey

"There is a value in implementing real-time payments in order to increase a country’s exposure to future innovations and create a platform for the next wave of use cases developed by fintech pioneers."

DELOITTE

"Real-time payment networks now span the globe as a critical way to move money. Financial services CIOs defining their strategy for real-time payments must provide the products and services demanded by the market or risk losing revenue to alternative providers."

GARDNER

"Real-time payments enable transformative experiences across all customer segments. Institutions that take advantage of these first of a kind speed and data capabilities will be well positioned to win in this new payments landscape."

KPMG