On the 15th anniversary of the launch of the Automated Interbank Payment System of the National Bank of Moldova, the implementation of this instant payment scheme was launched. This is a common national platform for processing payments that brings a number of benefits to consumers and providers of payment services. This way, instant or real-time payments will be made nonstop with immediate final settlement and this will make the instant reuse of funds received by beneficiaries possible, IPN reports.

The NBM said the putting of the system into operation represents an important step in the creation of modern payment infrastructure. The system’s anniversary coincides with the launch of a new stage in the development of the national payment system.

The participants in the payment system and the clients of this will be able to use an additional payment instrument as an alternative to bank cards with inherent potential of ensuring the migration of payments in cash to cashless payment methods as the costs for end-users when making payments will decrease and the system will become more convenient and accessible, especially in rural areas.

For the acceptance of real-time payments, a costly infrastructure of terminals and physical presence at branches of payment service providers are not necessary.

The instant payment scheme will contribute to more efficiently collection of debts to the state budget, will increase the speed of circulation of money in the economy and will facilitate the circulation of economic flows, while the sector of innovative payments will obtain a better investment attraction capacity.