Industry WIKI

Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s.

The National Payment Card System (Russian: Национальная система платёжных карт; known its acronym NSPK) is an operational and payment clearing house for processing bank card transactions within Russia and the operator of the Mir card payment system. It is the operational and payment clearing house of the Faster Payment System (FPS) and wholly owned by the Central Bank of Russia (CBR).