Well, yes, it is!
Though some experts argue that IBFT is not a “fast payment” method because the service uses advice messages to credit the receiving accounts. Others point out that banks don’t exchange funds in real-time and refer to the deferred or net-settlement method of 1Link.
Before answering these arguments, let’s have a closer look at the “fast payments.”
Continue reading IBFT: The “Fast Payment” of Pakistan
Earlier this year, the Karandaz Ideation Workshop was jointly organized by Karandaz Pakistan, INNOVentures Global and Finclude at Marriott hotel, Islamabad.
I delivered two training sessions at the workshop. The topics included payment technologies, covering digital payment system & DFS infrastructure of Pakistan, and current market scenario, covering commercial banks, MFS providers, fintechs, PSO/PSP and NBIs operating in Pakistan.
Explaining digital payment technologies and DFS infrastructure of Pakistan
Discussing current digital financial services’ market scenario in Pakistan
Around 30 participants from key DFS industry players attended this two day workshop.