CS has successfully prepared the technological foundation for connecting CBS B2 users to the instant payment system, which launched in Ukraine on December 1, 2024, as part of the updated SEP-4.1 version.
Innovative Opportunities for Banks and Business
The implementation of instant payments opens new possibilities for both businesses and individuals.
The distinctive feature of instant payments is their ability to execute money transfers within seconds. The sender receives real-time confirmation of funds being credited to the recipient’s account, while the receiving bank immediately notifies its client about the incoming transfer.
Unlike other similar payment systems where actual funds reach recipients through clearing settlements that can take hours or days, an instant transfer represents real-time movement of funds.
Instant payments support QR codes and Deeplinks for convenient transfer of payment details between users. This is particularly important for developing cashless payments, reducing manual entry of payment details, and simplifying payment operations both between individuals and in business settings.
It’s worth emphasizing that the instant payment process from payer to recipient includes automatic verification according to regulatory requirements, including internal bank checks, financial monitoring, and non-resident registry verification.
For banks, implementing instant payments isn’t just about meeting regulatory requirements—it’s an opportunity to provide customers with modern 24/7 payment services, optimize operational costs through SEP tariff policies, and prepare for future integration with the EU instant payment system.
Technological Solution from CS
The success of the company’s solution is evidenced by the fact that most of our partner banks using CBS B2 have successfully completed NBU test requirements. Of the ten banks already connected to the instant payment system, five are CBS B2 users who utilized our technological platform for this transition. The CS solution fully meets NBU requirements, ensuring 24/7 transaction processing within 10 seconds for amounts up to 100,000 hryvnias.
CS has also developed special APIs supporting integration of bank client applications with CBS B2 for instant transfers. Through these applications, users can make instant payments via a convenient mobile interface, using QR codes for quick transfer of payment details. This significantly simplifies and accelerates the process of paying for goods and services.
Development Prospects
The next stage in instant payments development will be mandatory connection of all NBU electronic payment system participants and implementation of retail network settlements.
The introduction of the instant payment system has strategic importance for Ukraine’s financial sector development. Having successful experience implementing a similar project in Moldova, where CS provided the technological foundation for instant transfers at OTP Bank, the company continues to improve its solutions for CBS B2 users, ensuring their technological readiness for future integration with the EU instant payment system (SEPA).
