NETS Instant Payments

NETS Instant Payments is a high-speed, high-volume real-time electronic funds transfer system. It enables financial institutions to deliver greater value to their participants by facilitating secure transaction processing within seconds, powered by the solution’s state-of-the-art, high-availability technologies.

What is NETS Instant Payments?

Singapore’s first real-time fund transfer system, designed to process high-volume, high-speed transactions 24/7, 365 days a year. Built on ISO 20022 standards, it is the first in the world solution to support real-time direct debit using this global messaging format. Providing end-to-end payment confirmation within 15 seconds, it is one of the fastest systems globally.

PAYMENT SWITCH

Central Bank
Clearing
House

Benefits of NETS Instant Payments

Always on real-time transfers

Facilitates real-time fund transfers for bill payments, online shopping, remittances, and personal transactions, operating continuously to support both businesses and consumers anytime.

Secure and scalable

Designed for high availability and robust security, suitable for both domestic and cross-border transactions.

Global links

Lays the foundation for multi-currency cross-border money transfers, reducing reliance on cheque and cash, and enhancing STP (straight-through processing) and reducing reconciliation errors.

Leveling access to payment transactions services

Businesses are better equipped to provide payment transaction services to unserved or under-served communities. Our solution can cover areas where physical banking infrastructures are not viable and provides options that were previously not available due to existing inherent limitations.

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