Also known as instant or real-time payments, fast payments are characterized by the instant transmission of the payment message and by the immediate availability of funds to the beneficiary on a 24/7/365 basis. Although the payment itself appears effortless, complex software behind the scenes makes that transaction possible. But not all software is the same, and some will require re-thinking the total cost of operations, talent needs, and licensing regimes.
In this webinar, Colin Colter (Payments Consultant, World Bank) and Claudio Ceresani (Senior Payments Consultant, World Bank) discuss the major elements and considerations of using open- source software in Fast Payment Systems and share considerations for how to navigate its various needs.