Aug 04, 2023
Guide to fast payment systems
The application performs transactions without commission for individuals within Sweden, allows you to send and receive money by phone number, as well as by QR code and from a smartphone.
Faster Payments is the UK’s fast payment system, with over 40 banks in the country, including Revolut, connected to it. The system allows you to send up to £1 million in a single transaction and make online payments with no fees from private customers.
Supported by 20 Chinese banks, the system allows customers to make instant transfers in Hong Kong dollars and RMB with no fees using the recipient’s phone or bank account number, email or QR code.
Australia’s fast payment system, transfers can be made by phone number, email, business number (ABN) or bank account number, transfer fees are set by the bank.
A Brazilian service that allows you to make transactions instantly (in less than 10 seconds), 24/7 without commission.
America’s fast payment systems, Venmo is a local service that can only be used in the US.
A system in Thailand allows payments in Thai baht using bank accounts in Thailand.
A fast payment system in Poland allows money transfers between Polish banks.
Indian service operating since 2010.
An application launched by Italian hypermarket chain Iper for all its outlets in seven Italian regions. Using JIFFY, customers can pay for purchases through a smartphone app that connects directly to their bank account. Money is transferred in real time between individuals and payments can also be made to merchants.
A popular e-wallet and mobile payment service in the Philippines, used by over 60 million people.
The service started in Turkey, accepts any Visa, Mastercard, Mir and UnionPay cards. The service earns on commission for making payments (2%) and conversion rate from rubles to lira (+12% of the real one). The money is credited to the seller’s Turkish account within two working days of payment.
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