Instant Payments in Czechia: Adoption and Future Trends

Ivan Trubelik, Tomas Karhanek, Simona Malovana and Ales Michl

Working Papers from Czech National Bank, Research and Statistics Department

Abstract: This paper analyzes the adoption and evolution of the instant payment system (IPS) in Czechia, focusing on its integration into the Czech Express Real Time Interbank Gross Settlement (CERTIS) system. Since 2018, CERTIS has enabled 24/7 CZK fund transfers, boosting transaction efficiency. Voluntary bank participation led to rapid uptake, and by 2024, IPS-participating banks handled over 90% of CERTIS client transactions, with 50% of interbank retail payments processed instantly. Czechia’s IPS stands out for its seamless bank integration, high reliability, and flexible limits. It also outperforms priority payments for lower-value transactions. The paper explores future developments, including cross-border payments and links to central bank digital currencies.

Keywords: CERTIS; instant payment system; real-time settlement; transaction efficiency (search for similar items in EconPapers)
JEL-codes: E42 E58 G21 O33 (search for similar items in EconPapers)
Date: 2025-04
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Persistent link: https://EconPapers.repec.org/RePEc:cnb:wpaper:2025/4

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