Everybody wants ever faster payment processing. And for some weeks now, these have been available in Switzerland, too. With Instant Payment, also known as real-time payment, you can complete transactions within seconds – 24/7 at that. But what exactly does this mean for you, and what advantages does this technology have to offer?
Instant Payment enables both private individuals and companies to transfer money from one bank account to another instantly. Unlike traditional bank remittances which might take several hours or even days to process, with Instant Payment, money is available in real time.
For end customers, Instant Payment means more flexibility and security in their everyday lives. You can pay invoices instantly, process online purchases more quickly and transfer gifts of money without any delay. Companies profit from improved liquidity and more efficient payment processes; something which provides a considerable competitive edge, in e-commerce particularly.
Despite the high speed, Instant Payment is said to be entirely secure. Cutting edge encryption technologies and multi-level authorisation processes ensure that all transactions are protected. Users should still remain vigilant though and check very closely who a payment is going to before sending it. And our basic security measures in the shape of our “5 steps for your digital security” will serve as a basic prerequisite for secure digital banking.
