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Building Faster Better: A Guide to Inclusive Instant Payment Systems

Today, digital technologies provide the on the on-ramp for many people in emerging markets to access and use financial services. However, many of the payment services available to low-income customers have evolved as closed-loop systems, meaning they are not interoperable with the services of other providers.

This guide from CGAP is intended to be a practical tool for those pursuing interoperability in digital financial services. It focuses on instant payments—payments where the transmission of the payment message and the availability of final funds to the payee occur in near real time with continuous availability.

CGAP is a global partnership of more than 30 leading development organizations that works to advance the lives of poor people through financial inclusion. Using action-oriented research, we test, learn and share knowledge intended to help build inclusive and responsible financial systems that move people out of poverty, protect their economic gains and advance broader development goals. We research and experiment to achieve proof of concept and extract lessons that can be built to scale by our partners, who apply our insights in the marketplace.