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Launched in 2006, RTC was one of the earliest implementations of a real-time retail payment systems in the world. The RTC value proposition was originally geared towards higher transaction values and has evolved over the years due to more banks participating in RTC and lowering the price.
RTC offers customers the ability to expedite payments, allowing for clearing of interbank payment within 60 seconds and is limited to R5 million (RTC transactions exceeding this amount must be routed via the Real Time Gross Settlement System (RTGS).
RTC will coexist with the new PayShap offering due to slightly different use cases being supported, but particularly because not all industry players will immediately pursue the newly designed PayShap offering.
Copyright © 2024 Synthesis. All Rights Reserved. Sitemap
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