Instant Payments Services
- The fastest and safest way o transfer money – – the payments via Instant payments are interbank transfers processed by TRANSFOND, with the settlement ensured by the National Bank of Romania. TRANSFOND is the operator of Instant payments interbank infrastructure. This is the company that processes all non-card retail interbanking payments (below 50.000_lei) in Romania. In the Instant payments system, money is directly transferred from the debtor’s bank account to the beneficiary’s bank account, without passing through intermediate accounts. Instant Payments is a component of the Automated Clearing House – SENT.
- Your money will be safe the Instant Payments infrastructure belongs to the banks, thus guaranteeing the safety of your money, information enclosed to the payments and the entire system. The National Bank of Romania is the overseer of the system, according to all relevant legal provisions.
- You will become independent from the regular business<span">hours and you are able to send or collect money anytime, as your bank will provide this 24/7 service.
- You will only need a simple mobile device (usually a phone) in order to INSTANTLY purchase online or offline goods and services, to make INSTANT payments to friends or other recipients and subsequently, to make payments just using the recipient’s phone numbers or e-mail address – via ”Alias Pay” service (which uses alises of the recipient’s IBAN codes). You could also instantly pay from any desktop or laptop, via your banks’ internet banking, as well as from the counter, all depending on your banks’ options to deliver the service to you.
Entities involved in the Instant Payment System
Banks (payment services providers),
Payment schemes administrator – ARB,
Payment schemes supervisor – NBR