Single Immediate Payment

Immediate payments - UK - Faster Payments Service.

(SIP).

Single Immediate Payments are used primarily for ‘attended’ payments initiated by customers using channels such as internet, mobile or telephone banking, where the customer wants the payment to be effected immediately.

The paying customer must be advised of the fate of the payment in near-real-time at the time of payment submission.

See also

• BACS
• C&CCC
• Clearing House Automated Payment System
• CPA
• Electronic commerce
• ERPS
• Faster Payments Service
• Immediate payments and the impact on corporate treasurers
• IMPS
• LVPS
• New Payments Platform
• Payments and payment systems
• PSP
• Real-time Payments
• SEPA