Understanding the What, Why, and How of Instant Payments - ICBA
https://www.icba.org/newsroom/news-and-articles/2022/03/30/understanding-the-what-why-and-how-of-instant-payments
WEBMar 30, 2022 · An instant payment is a payment that clears and settles in real time, or near real time (in seconds, not minutes or hours). The payments are irrevocable, with funds immediately available to the payee. Within the United States, instant payments are transacted by financial institutions, leveraging instant payments 'rails' or networks.
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