Deutsche Bank’s Michael Knetsch explores inbound innovations for corporate instant payments, in an article for PaymentEye
February 19, 2020
Over the past five years instant payment schemes, otherwise known as real-time or faster payment schemes, have rapidly developed across the world – catching the attention of banks, consumers and companies along the way. This trend is set to continue, says Michael Knetsch, director, business product expert – payments, Deutsche Bank in an article for PaymentEye
These schemes, which facilitate the transfer of money within seconds, can be a transformative proposition for corporates. Sending funds instantly removes cash-flow latency, improves the customer experience, and brings the industry one step closer to achieving a real-time treasury set-up.
But the journey is just beginning. Instant payments are relatively new on the market, with infrastructure and product features still being developed. While corporates have already seen a number of benefits, these are set to expand further as new complementary innovations, such as application programming interfaces (API) and request to pay, become more widespread.
The article can be read on PaymentEye here.
TAGS: Financial Services