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toomuchtodo

India: https://en.wikipedia.org/wiki/Unified_Payments_Interface

Brazil: https://en.wikipedia.org/wiki/Pix_(payment_system)

US: https://en.wikipedia.org/wiki/FedNow

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Singapore: FAST - https://www.abs.org.sg/consumer-banking/fast

Thailand: PromptPay - https://www.bangkokbank.com/en/Personal/Digital-Banking/Prom...

Australia: NPP - https://www.rba.gov.au/payments-and-infrastructure/new-payme...

Hong Kong: FPS - https://www.hkma.gov.hk/eng/smart-consumers/faster-payment-s...

Philippines: InstaPay - https://www.instapayph.com/

Mexico: CoDI - https://www.codi.org.mx/

Indonesia: BI-FAST - https://www.bi.go.id/en/publikasi/ruang-media/news-release/P...

NPP is fantastic. (Often referred to as PayID, Fast Payment or Osko, depending on your bank here in Australia). Last Friday I was able to buy an item from a friend while we both standing in his driveway - he confirmed the payment on his account. He just provided his BSB (6 digit bank number) and account and I did the transfer. We both use non major banks. I have used it to settle split bills with colleagues after lunches. Usually you just link your mobile number or email address. All without bank fees or going anywhere near Visa, MasterCard or Paypal and confirmed in under a minute.

You can even a phone number instead of use BSB and acc no. Super convenient

Thanks for sharing these links! If someone wants to start a Wikipedia page enumerating global instant payment systems, I'm happy to chip some fiat in. Email in profile.

Europe: SEPA Instant Credit Transfer

https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta...

https://en.wikipedia.org/wiki/Single_Euro_Payments_Area#Sche...

So far it hasn't seen widespread adoption, though.

Germany: https://en.m.wikipedia.org/wiki/Giropay

By the way, according the the Wikipedia article, the launch of the US American FedNow service is imminent. I wonder whether it has any chance against the more expensive but widely adopted credit card payments.

Walmart is already preparing to adopt FedNow payments, and submitted comments during the public comment period.

https://www.pymnts.com/news/retail/2023/walmart-hints-at-ear...

https://www.federalreserve.gov/SECRS/2019/December/20191227/...

> Walmart has observed a severe misalignment of incentives that has plagued the payments system in the United States for decades. Certain incumbents and large participants enjoy massive profits by stifling innovation in payments, ensuring that account access is limited to a small number of networks, and perpetuating barriers to entry for alternative solutions. Controlling this access allows the dominant players to extract rents from other payments system participants, ultimately resulting in higher costs for all consumers, particularly consumers who are unbanked or underbanked.

They say it how it is.

They are ignoring the systemic manipulation of the entire market against people deemed "undesirable" or that are just poor.

But well, they probably never noticed it.

In an enemy-of-my-enemy perspective, Walmart comes out as the "good guy" here because their market position aligns best with the unbanked/underbanked audience.

Neiman-Marcus is less likely to complain about their audience not having access to modern payment rails; they might kvetch about the cost of accepting a Platinum Amex, but that's a different debate entirely.

but giropay is owned by a private company, not the state or central bank.

also it’s an online payment service, not sure you can use it for direct transfers or in person payments like those others

Also, Pakistan launched its own last year. Unfortunately, no wiki entry.

https://www.sbp.org.pk/dfs/Raast.html

South Africa: Payshap https://www.payshap.co.za/

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