Use cases

Instant Payments can be very useful in various situations

How do Instant Payments work in practice? All bank accounts of participating banks, belonging to either consumers or businesses, will be able to receive Instant Payments.  There is no need so set up anything for that. An Instant Payments can be initiated via your bank: via the mobile app or online.

Instant Payments can be useful in all kinds of situations.

Pay immediately in person

 
 
Pay someone else for the bike from Marktplaats using the mobile banking app as fast and easy as with cash. This person receives the money at any time (24/7) within 5 seconds in his bank account, also when he has his bank account somewhere else.

Pay upon delivery

Instant Payments allows to pay upon delivery, instead of paying in advance or paying afterwards which is the current custom. At the exact moment when the delivery takes place, the Instant Payment can be made. The retailer receives the Instant Payment directly in his bank account, also in the evening or during weekends. The transaction is fully completed within 5 seconds after the customer submitted the payment to his or her bank.

Also possible for large amounts

 
 
Optimize cash management and pay the supplier just in time for delivered goods, also in the evening or on weekends. The credit transfer will be booked immediately and the funds will be directly available in the supplier’s account, even when it is a larger amount of money or when payment is made outside business hours.