Since the 1980s, the momentum behind real-time payments (RTP) – also known as faster or instant payments – has grown at an accelerated pace, because of its benefits to both consumers and businesses. Estimates currently suggest approximately 35 countries, including Switzerland, Taiwan, India, China and the UK, have implemented or are developing RTP schemes. With the European Central Bank also suggesting that cash payments cost up to €65 billion across its 27 member-states (data predates the joining of Croatia in 2013), the attraction of RTP becomes more evident.