View source for Finance:Real-time gross settlement

{{Short description|Electronic fund transfer system}}
'''Real-time gross settlement (RTGS)''' systems are specialist [[Finance:Electronic funds transfer|funds transfer system]]s where the transfer of [[Finance:Money|money]] or securities<ref>{{cite journal|title=Real-Time Gross Settlement Systems|author=Committee on Payment and Settlement Systems of the central banks of the Group of Ten countries|publisher=[[Organization:Bank for International Settlements|Bank for International Settlements]]|date=March 1997|url=http://www.bis.org/publ/cpss22.pdf|page=14|url-status=live|archive-url=https://web.archive.org/web/20101020094203/http://www.bis.org/publ/cpss22.pdf|archive-date=2010-10-20}}</ref> takes place from one [[Social:Bank|bank]] to any other bank on a "real-time" and on a "gross" basis to avoid [[Finance:Settlement risk|settlement risk]]. [[Finance:Settlement|Settlement]] in "real time" means a payment [[Finance:Financial transaction|transaction]] is not subjected to any waiting period, with transactions being settled as soon as they are processed. "Gross settlement" means the transaction is settled on a one-to-one basis, without bundling or [[Finance:Net settlement|netting]] with any other transaction. "Settlement" means that once processed, payments are final and irrevocable.

==History==
As of 1985, three central banks implemented RTGS systems, while by the end of 2005, RTGS systems had been implemented by 90 central banks.<ref>Morten Bech, Bart Hobijn, "Technology Diffusion within Central Banking: The Case of Real-Time Gross Settlement", Staff Report NJ. 260, Federal Reserve Bank of New York, Working Paper, September 2007, p. 2</ref>

The first system that had the attributes of an RTGS system was the US [[Fedwire]] system which was launched in 1970.  This was based on a previous method of transferring funds electronically between US federal reserve banks via telegraph.  The United Kingdom and France both independently developed RTGS type systems in 1984.  The UK system was developed by the Bankers' Clearing House in February 1984 and was called [[Company:CHAPS|CHAPS]].  The French system was called SAGITTAIRE.  A number of other developed countries launched systems over the next few years.  These systems were diverse in operation and technology, being country-specific as they were usually based upon previous processes and procedures used in each country.

In the 1990s international finance organizations emphasized the importance of large-value funds transfer systems which banks use to settle interbank transfers for their own account as well as for their customers as a key part of a country's financial market infrastructure.  By 1997 a number of countries, inside as well as outside the [[Organization:Group of Ten (economics)|Group of Ten]], had introduced real-time gross settlement systems for large-value funds transfers. Nearly all G-10 countries had plans to have RTGS systems in operation in the course of 1997 and many other countries were also considering introducing such systems.<ref>{{cite web |url=https://www.bis.org/cpmi/publ/d22.pdf |title=Real-time gross settlement systems |author=Committee on Payment and Settlement Systems of the central banks of the Group of Ten countries |date=March 5, 1997 |publisher=BIS}}</ref>

==Operation==
RTGS systems are usually operated by a country's [[Finance:Central bank|central bank]] as it is seen as critical infrastructure for a country's economy. Economists believe that an efficient national payment system reduces the cost of exchanging goods and services, and is indispensable to the functioning of the interbank, money, and capital markets. A weak payment system may severely drag on the stability and developmental capacity of a national economy; its failures can result in inefficient use of financial resources, inequitable risk-sharing among agents, actual losses for participants, and loss of confidence in the financial system and in the very use of money.<ref>Biago Bossone and Massimo Casino, "The Oversight of the Payment Systems: A Framework for the Development and Governance of Payment Systems in Emerging Economies"The World Bank, July 2001, p.7</ref>

RTGS system does not require any physical exchange of money; the central bank makes adjustments in the electronic accounts of Bank A and Bank B, reducing the balance in Bank A’s account by the amount in question and increasing the balance of Bank B’s account by the same amount. The RTGS system is suited for low-volume, high-value transactions. It lowers settlement risk, besides giving an accurate picture of an institution’s account at any point in time. The objective of RTGS systems by central banks throughout the world is to minimize risk in high-value electronic payment settlement systems. In an RTGS system, transactions are settled across accounts held at a central bank on a continuous gross basis. The settlement is immediate, final, and irrevocable. Credit risks due to settlement lags are eliminated. The best RTGS national payment systems cover up to 95% of high-value transactions within the national monetary market.

RTGS systems are an alternative to systems of settling transactions at the end of the day, also known as the net settlement system, such as the [[Organization:BACS|BACS]] system in the United Kingdom. In a net settlement system, all the inter-institution transactions during the day are accumulated, and at the end of the day, the central bank adjusts the accounts of the institutions by the net amounts of these transactions.<ref>{{cite web |author1=Swiss National Bank |title=The Swiss Interbank Clearing (SIC) payment system |url=https://www.snb.ch/en/mmr/reference/sic_system/source/sic_system.en.pdf |website=Swiss National Bank |access-date=10 January 2021 |page=3 |date=November 2019}}</ref>

The [[Organization:World Bank|World Bank]] has been paying increasing attention to payment system development as a key component of the financial infrastructure of a country and has provided various forms of assistance to over 100 countries. Most of the RTGS systems in place are secure and have been designed around international standards and best practices.<ref>Massimo Casino and Jose Antonio Garcia, "Measuring Payment System Development", The World Bank, 2008</ref>

There are several reasons for central banks to adopt RTGS. First, a decision to adopt is influenced by competitive pressure from the global financial markets. Second, it is more beneficial to adopt an RTGS system for the central bank when this allows access to a broad system of other countries' RTGS systems. Third, it is very likely that the knowledge acquired through experiences with RTGS systems spills over to other central banks and helps them make their adoption decision. Fourth, central banks do not necessarily have to install and develop RTGS themselves. The possibility of sharing development with providers that have built RTGS systems in more than one country ([[Company:CGI Group|CGI]] of UK holding the IP, CMA Small System of Sweden, JV Perago of South Africa, [[Company:SIA S.p.A.|SIA S.p.A.]] of Italy and Montran of USA) has presumably lowered the cost and hence made it feasible for many countries to adopt.<ref>Morten Bech, Bart Hobijn, " Technology Diffusion within Central Banking: The Case of Real-Time Gross Settlement", Staff Report NJ. 260, Federal Reserve Bank of New York, Working Paper, September 2006, p. 16–17</ref>

== Existing systems ==
[[File: Large value payment systems.jpg|World map with main systems used for large-value payments|thumb]]
Below is a listing of countries and their RTGS systems:
{| class="wikitable sortable"
|-
!Country!!System
|-
|{{flag|African Union}} || [[Finance:Pan-African Payment and Settlement System|PAPSS]] (Pan-African Payment and Settlement System)<ref>https://papss.com/</ref>
|-
| {{flag|Angola}} || SPTR ({{lang-pt|Sistema de pagamentos em tempo real}}; Real-time Payment System)
|-
| {{flag|Argentina}} || MEP ({{lang-es|Medio electrónico de pagos}}; Electronic Means of Payment)<ref>{{cite web|url=https://www.bcra.gob.ar/SistemasFinancierosYdePagos/Medio_electronico_de_pagos.asp|title=Medio electrónico de pagos|website=www.bcra.gob.ar}}</ref>
|-
| {{flag|Azerbaijan}} ||  AZIPS (Azerbaijan Interbank Payment System)<ref>{{cite web|author=Central Bank of the Republic of Azerbaijan |url=http://en.cbar.az/pages/payment-systems/nps-infrastructure/large-value-payment-system-rtgs/ |title=Azərbaycan Respublikasının Mərkəzi Bankı - Ana səhifə |publisher=En.cbar.az |access-date=2020-04-18}}</ref>
|-
| {{flag|Australia}} || RITS (Reserve Bank Information and Transfer System)
|-
| {{flag|Bahrain}} || RTGS (Real Time Gross Settlement System)<ref>{{cite web|url=https://www.cbb.gov.bh/payment-settlement/|title=Payment & Settlement &#124; CBB|website=www.cbb.gov.bh}}</ref>
|-
| {{flag|Bangladesh}} || RTGS (Bangladesh Bank Payment Service Division)
|-
| {{flag|Barbados}} || CBRTGS (Central Bank Real Time Gross Settlement System)<ref>{{cite web|url=http://www.centralbank.org.bb/news/article/6438/central-bank-of-barbados-real-time-gross-settlement|title=Central Bank of Barbados Real Time Gross Settlement|website=Central Bank of Barbados}}</ref>
|-
| {{flag|Bosnia and Herzegovina}} || RTGS
|-
| {{flag|Belarus}} || BISS (Belarus Interbank Settlement System)<ref>{{cite web|url=https://www.nbrb.by/payment/|title=Платежная система Республики Беларусь - Национальный банк Республики Беларусь|website=www.nbrb.by|access-date=6 May 2018|url-status=live|archive-url=https://web.archive.org/web/20171010160213/https://www.nbrb.by/payment/|archive-date=10 October 2017}}</ref>
|-
| {{flag|Bulgaria}} || RINGS (Real-time Interbank Gross Settlement)
|-
| {{flag|Brazil}} || STR ({{lang-pt|Sistema de Transferência de Reservas}}; Reserves Transfer System)
|-
| {{flag|Canada}} || Lynx <ref>{{cite web |title=High-value payment system - Lynx |url=https://www.payments.ca/high-value-payment-system-lynx |website=www.payments.ca |date=26 August 2021 |access-date=30 May 2022}}</ref>
|-
| {{flag|China}} || CIPS ([[Company:Cross-Border Interbank Payment System|Cross-Border Interbank Payment System]]) <ref>{{cite web|title=IMF - Financial Sector Assessment Program - PRC|url=https://www.imf.org/-/media/Files/Publications/CR/2018/cr18192.ashx|access-date=2023-10-11}}</ref>
|-
| {{flag|Chile}} || LBTR/CAS ({{lang-es|Liquidación Bruta en Tiempo Real}}; Real-time Gross Settlement)
|-
| {{flag|Costa Rica}} || TEF ({{lang-es|Transferencia Electrónica de Fondos}}; Electronic Funds Transfer) <ref>{{cite web |title=Costa Rica: Financial System Stability Assessment|url=https://www.elibrary.imf.org/view/journals/002/2003/103/article-A001-en.xml |website=www.elibrary.imf.org |access-date=30 May 2022}}</ref>
|-
| {{flag|Czech Republic}} || CERTIS (Czech Express Real Time Interbank Gross Settlement System)
|-
| {{flag|Denmark}} || KRONOS2
|-
| {{flag|Dominican Republic}} || LBTR ({{lang-es|Liquidación Bruta en Tiempo Real}}; Gross Settlement in Real Time)<ref>{{cite web|url=https://www.bancentral.gov.do/a/d/2650-sistema-lbtr|title=Central Bank of the Dominican Republic|website=www.bancentral.gov.do | access-date= 2021-09-09}}</ref>
|-
| {{flag|Egypt}} || RTGS<ref>{{cite web|url=https://www.cbe.org.eg/|title=Central Bank of Egypt|website=www.cbe.org.eg}}</ref>
|-
| {{flagicon|European Union}} Eurozone || [[Finance:TARGET2|TARGET2]] (Trans-European Automated Real-time Gross Settlement Express Transfer 2)<ref>{{Cite web|title=What is TARGET2? |url=https://www.ecb.europa.eu/paym/target/target2/html/index.en.html |website=European Central Bank }}</ref>
|-
| {{flag|Fiji}} || FIJICLEAR<ref>{{cite web |url=http://www.rbf.gov.fj/docs2/FIJICLEAR%20Payment%20system.pdf |title=Payment system |publisher=www.rbf.gov.fj |access-date=2020-04-18 |archive-date=2019-08-19 |archive-url=https://web.archive.org/web/20190819030246/http://www.rbf.gov.fj/docs2/FIJICLEAR%20Payment%20system.pdf |url-status=dead }}</ref>
|-
| {{flag|Hong Kong}} || [[Finance:Clearing House Automated Transfer System|CHATS]] (Clearing House Automated Transfer System)
|-
| {{flag|Hungary}} || VIBER ({{lang-hu|Valós Idejű Bruttó Elszámolási Rendszer}}; Real-time Gross Settlement System)
|-
| {{flag|Georgia}} || GPSS (Georgian Payment and Securities System)<ref>{{cite web|url=https://www.nbg.gov.ge/index.php?m=204/GPSS&lng=eng|title=National Bank Of Georgia|website=www.nbg.gov.ge|access-date=2019-04-28|archive-date=2021-04-15|archive-url=https://web.archive.org/web/20210415025150/https://www.nbg.gov.ge/index.php?m=204%2FGPSS&lng=eng|url-status=dead}}</ref>
|-
| {{flag|India}} || RTGS<ref>{{cite web |url=https://www.rbi.org.in/scripts/bs_viewrtgs.aspx |title=The RTGS System |archive-url=https://web.archive.org/web/20170223153905/https://www.rbi.org.in/Scripts/BS_ViewRTGS.aspx |archive-date=2017-02-23 |website=Reserve Bank of India}}</ref> 
|-
| {{flag|Indonesia}} || BI-RTGS (Bank Indonesia Real Time Gross Settlement Sistem)
|-
| {{flag|Iran}} || SATNA (سامانه تسویه ناخالص آنی, Real-Time Gross Settlement System)
|-
| {{flag|Iraq}} || RTGS (Real Time Gross Settlement System)<ref>{{cite web|url=http://cbi.iq/index.php?pid=PaymentSystems|title=Central Bank of Iraq website|access-date=2017-05-03|url-status=live|archive-url=https://web.archive.org/web/20160304074848/http://cbi.iq/index.php?pid=PaymentSystems|archive-date=2016-03-04}}</ref>
|-
| {{flag|Israel}} || Zahav ({{lang-he|זה"ב זיכויים והעברות בזמן אמת}}; Zahav Real-time Credits and Transfers)<ref>{{cite web|url=http://www.boi.org.il/he/PaymentSystem/ZahavSystem/Pages/Default.aspx|title=Central Bank of Israel website|access-date=2017-10-26|url-status=live|archive-url=https://web.archive.org/web/20170919211107/http://www.boi.org.il/he/PaymentSystem/ZahavSystem/Pages/Default.aspx|archive-date=2017-09-19}}</ref>
|-
| {{flag|Japan}} || BOJ-NET (Bank of Japan Financial Network System)<ref name=RedBook2003>{{cite web |author=Bank of Japan |title=Payment systems in Japan |url=http://www.boj.or.jp/en/paym/bojnet/index.htm |publisher=Bank of Japan |year=2003 |access-date=2017-05-03 |url-status=live |archive-url=https://web.archive.org/web/20170506165528/http://www.boj.or.jp/en/paym/bojnet/index.htm |archive-date=2017-05-06}}</ref>
|-
| {{flag|Jordan}} || RTGS-J<ref>http://www.cbj.gov.jo/pages.php?menu_id=128/ </ref>
|-
| {{flag|Kenya}} || KEPSS (Kenya Electronic Payment and Settlement System)<ref>{{cite web|url=https://www.centralbank.go.ke/national-payments-system/kepss-rtgs/|title=KEPSS/RTGS &#124; CBK|website=www.centralbank.go.ke}}</ref>
|-
| {{flag|Korea}} || BOK-WIRE+ (The Bank of Korea Financial Wire Network, 한은금융망)
|-
| {{flag|Kuwait}} || KASSIP (Kuwait's Automated Settlement System for Inter-Participant Payments)
|-
| {{flag|Lebanon}} || BDL-RTGS (Banque Du Liban – Real Time Gross Settlement)<ref>{{cite web|url=http://www.bdl.gov.lb/pages/index/7/280/Lebanon-National-Payment-System.html|title=Central Bank of Lebanon website|access-date=2017-05-03|url-status=live|archive-url=https://web.archive.org/web/20170427045804/http://www.bdl.gov.lb/pages/index/7/280/Lebanon-National-Payment-System.html|archive-date=2017-04-27}}</ref>
|-
| {{flag|Macedonia}} || MIPS (Macedonian Interbank Payment System)<ref>{{cite web|url=http://www.nbrm.mk/mipsdd77afa6-en.nspx|title=National Bank of Macedonia website|access-date=2017-12-01|url-status=live|archive-url=https://web.archive.org/web/20171201183122/http://www.nbrm.mk/mipsdd77afa6-en.nspx|archive-date=2017-12-01}}</ref>
|-
| {{flag|Macao}} || RTGS <ref>{{cite web|url=https://www.amcm.gov.mo/zh/about-amcm/amcmgfc/fininfra2|title=Financial Infrastructure Series 2 - Real-time Gross Settlement System (金融基建系列二—即時支付結算系統)|access-date=2020-03-13|url-status=live|archive-url=https://web.archive.org/web/20200313135320/https://www.amcm.gov.mo/zh/about-amcm/amcmgfc/fininfra2|archive-date=2020-03-13}}</ref>
|-
| {{flag|Malawi}} || MITASS (Malawi Interbank Settlement System)
|-
| {{flag|Malaysia}} || RENTAS (Real Time Electronic Transfer of Funds and Securities)
|-
| {{flag|Mauritius}} || MACSS (Mauritius Automated Clearing and Settlement System)<ref>{{cite web |url=https://www.bom.mu/payment-systems/macss/mauritius-automated-clearing-and-settlement-system |title=Mauritius Automated Clearing and Settlement System |publisher=Bank of Mauritius |access-date=August 18, 2018}}</ref>
|-
| {{flag|Mexico}} || SPEI ({{lang-es|Sistema de Pagos Electrónicos Interbancarios}}; Interbank Electronic Payment System)<ref>{{cite web |url=http://www.banxico.org.mx/sistemas-de-pago/servicios/sistema-de-pagos-electronicos-interbancarios-spei/sistema-pagos-electronicos-in.html |title=Banxico's SPEI |publisher=Banco de Mexico |access-date=2017-05-03 |url-status=live |archive-url=https://web.archive.org/web/20121217022539/http://www.banxico.org.mx/sistemas-de-pago/servicios/sistema-de-pagos-electronicos-interbancarios-spei/sistema-pagos-electronicos-in.html |archive-date=2012-12-17 }}</ref>
|-
| {{flag|Morocco}} || SRBM (Système de règlement brut du Maroc; Moroccan Gross Settlement System)<ref>{{cite web |url=http://www.bkam.ma/wps/wcm/resources/file/eb457845a19ed73/Dpliant%20SRBM.pdf | title=Système de règlement brut du Maroc |archive-url=https://web.archive.org/web/20160304121108/http://www.bkam.ma/wps/wcm/resources/file/eb457845a19ed73/Dpliant%20SRBM.pdf |url-status=dead |archive-date=2016-03-04 |date=2016-03-04 |access-date=2020-04-18}}</ref>
|-
| {{flag|Namibia}} || NISS (Namibia Interbank Settlement System)<ref>{{cite web|url=https://www.bon.com.na/Bank/Payments-and-Settlements/Namibia-Inter-bank-Settlement-System-(NISS).aspx|title=Bank of Namibia - Namibia Inter-bank Settlement System (NISS)|website=www.bon.com.na}}</ref>
|-
| {{flag|New Zealand}} || ESAS (Exchange Settlement Account System)
|-
| {{flag|Nigeria}} || CIFTS (CBN Inter-Bank Funds Transfer System)
|-
| {{flag|Pakistan}} || RTGS (Real Time Gross Settlement System)<ref>{{cite web|url=http://sbp.org.pk/departments/rtgs.asp|title=State Bank of Pakistan|website=sbp.org.pk|access-date=2017-10-21|url-status=dead|archive-url=https://web.archive.org/web/20171101015514/http://sbp.org.pk/departments/rtgs.asp|archive-date=2017-11-01}}</ref>
|-
| {{flag|Paraguay}} || LBTR ({{lang-es|Liquidación Bruta en Tiempo Real}}; Gross Settlement in Real Time)
|-
|-
| {{flag|Peru}} || LBTR ({{lang-es|Liquidación Bruta en Tiempo Real}}; Gross Settlement in Real Time)
|-
| {{flag|Philippines}} || PhilPaSS<ref>{{cite web|url=http://www.bsp.gov.ph/financial/payment_phil.asp|title=Bangko Sentral ng Pilipinas - Financial Markets - Philippine RTGS: PhilPaSS|website=www.bsp.gov.ph}}</ref>
|-
| {{flag|Poland}} || SORBNET<ref>{{cite web|url=http://nbp.pl/home.aspx?f=/systemplatniczy/sorbnet/sorbnet.html|archive-url=https://web.archive.org/web/20101009154501/http://nbp.pl/home.aspx?f=/systemplatniczy/sorbnet/sorbnet.html|archive-date=2010-10-09|title=Narodowy Bank Polski - Internetowy Serwis Informacyjny|date=October 9, 2010}}</ref> and SORBNET2<ref>{{cite web |url=http://nbp.pl/home.aspx?f=%2Fsystemplatniczy%2Finformacja_sorbnet2.html |title=Narodowy Bank Polski - Internetowy Serwis Informacyjny |website=nbp.pl |access-date=13 January 2022 |archive-url=https://web.archive.org/web/20101009174609/http://nbp.pl/home.aspx?f=%2Fsystemplatniczy%2Finformacja_sorbnet2.html |archive-date=9 October 2010 |url-status=dead}}</ref>
|-
| {{flag|Qatar}} || QPS (Qatar Payment System)<ref>{{cite web|url=http://www.qcb.gov.qa/English/FinancialStability/PaymentSystems/Pages/ElectronicPaymentSystems.aspx|title=Qatar Central Bank - Electronic payments and settlements systems 1|website=www.qcb.gov.qa}}</ref> 
|-
| {{flag|Russia}} || BESP System (Banking Electronic Speed Payment System)<ref>{{cite web|url=https://www.cbr.ru/eng/Psystem/payment_system/|title=Bank of Russia payment system}}</ref>
|-
| {{flag|Romania}} || ReGIS<ref>{{cite web|url=http://www.bnro.ro/Sistemul-ReGIS-307.aspx |title=Banca Naţională a României - Sistemul ReGIS |publisher=Bnro.ro |access-date=2020-04-18}}</ref>
|-
| {{flag|Saudi Arabia}} || SARIE (Saudi Arabian Riyal Interbank Express)<ref>{{cite web|url=http://www.sama.gov.sa/en-US/PaymentSystem/Pages/SARIE.aspx|title=SARIE|website=www.sama.gov.sa}}</ref>
|-
| {{flag|Singapore}} || MEPS+ (MAS Electronic Payment System Plus)<ref>{{cite web |url=http://www.mas.gov.sg/singapore-financial-centre/payment-and-settlement-systems/clearing-and-settlement-systems/meps.aspx |title=MEPS |website=www.mas.gov.sg |access-date=13 January 2022 |archive-url=https://web.archive.org/web/20130522062537/http://www.mas.gov.sg/singapore-financial-centre/payment-and-settlement-systems/clearing-and-settlement-systems/meps.aspx |archive-date=22 May 2013 |url-status=dead}}</ref>
|-
| {{flag|South Africa}} || SAMOS (The South African Multiple Option Settlement)<ref>{{cite web|url=https://www.resbank.co.za/RegulationAndSupervision/NationalPaymentSystem(NPS)/SAMOSSystem(RTGS)/Pages/SAMOSSystem(RTGS)-Home.aspx|title=SAMOS System (South African's Real Time Gross Settlement (RTGS) System) - South African Reserve Bank|website=www.resbank.co.za|access-date=2017-05-03|archive-date=2020-09-21|archive-url=https://web.archive.org/web/20200921195754/https://www.resbank.co.za/RegulationAndSupervision/NationalPaymentSystem(NPS)/SAMOSSystem(RTGS)/Pages/SAMOSSystem(RTGS)-Home.aspx|url-status=dead}}</ref>
|-
| {{flag|Sri Lanka}} || LankaSettle (RTGS/SSSS)<ref>{{cite web |url=http://www.cbsl.gov.lk/htm/english/05_fss/f_3.html |title=Central Bank of Sri Lanka |website=www.cbsl.gov.lk |access-date=13 January 2022 |archive-url=https://web.archive.org/web/20100712100557/http://www.cbsl.gov.lk/htm/english/05_fss/f_3.html |archive-date=12 July 2010 |url-status=dead}}</ref>
|-
| {{flag|Sweden}} || RIX ({{lang-sv|Riksbankens system för överföring av kontoförda pengar}})<ref>{{cite web|url=http://www.riksbank.se/en/Financial-stability/The-RIX-payment-system/|archive-url=https://web.archive.org/web/20130331025704/http://www.riksbank.se/en/Financial-stability/The-RIX-payment-system/|archive-date=2013-03-31|title=The RIX payment system &#124; Sveriges Riksbank|date=March 31, 2013}}</ref>
|-
| {{flag|Switzerland}} || SIC (Swiss Interbank Clearing)<ref>{{cite web|url=https://www.six-group.com/de/products-services/banking-services/interbank-clearing/sic.html|title=Zahlungssystem SIC|website=SIX}}</ref>
|-
| {{flag|Taiwan}} || CIFS (CBC Interbank Funds Transfer System)<ref>{{cite web|url=http://www.cbc.gov.tw/ct.asp?xItem=936&CtNode=497&mp=2 |title=中央銀行-中文版 |publisher=Cbc.gov.tw |access-date=2020-04-18}}</ref>
|-
| {{flag|Tanzania}} || TIS (Tanzania Interbank Settlement)<ref>{{cite web|url=http://www.bot.go.tz/PaymentSystem/NPSoverview.asp |title=Bank of Tanzania: Payment System - Overview of the National Payment System |publisher=Bot.go.tz |access-date=2020-04-18}}</ref>
|-
| {{flag|Thailand}} || BAHTNET (Bank of Thailand Automated High Value Transfer Network)<ref>{{cite web|url=https://www.bot.or.th/English/PaymentSystems/PSServices/bahtnet/Pages/default.aspx|title=BAHTNET System|website=www.bot.or.th|access-date=2020-04-18|archive-date=2020-09-22|archive-url=https://web.archive.org/web/20200922074750/https://www.bot.or.th/English/PaymentSystems/PSServices/bahtnet/Pages/default.aspx|url-status=dead}}</ref>
|-
| {{flag|Turkey}} || EFT (Electronic Fund Transfer)<ref>{{cite web|url=http://dassozluk.com/forum/tuerkisch-deutsche-und-deutsch-tuerkische-glossare/internet-begriffeinternet-terimleri-endetr/|title=Internet Begriffe/İnternet Terimleri - EN/DE/TR}}</ref>
|-
| {{flag|Ukraine}} || SEP (System of Electronic Payments of the National Bank of Ukraine)<ref>{{cite web |url=https://bank.gov.ua/control/en/publish/article?art_id=39972473&cat_id=39972469 |title=System of Electronic Payments (SEP) |website=bank.gov.ua |access-date=13 January 2022 |archive-url=https://web.archive.org/web/20180830234019/https://bank.gov.ua/control/en/publish/article?art_id=39972473&cat_id=39972469 |archive-date=30 August 2018 |url-status=dead}}</ref>
|-
| {{flag|United Kingdom}} || [[Company:CHAPS|CHAPS]] (Clearing House Automated Payment System)<ref>{{cite web|url=http://www.bankofengland.co.uk/payment-and-settlement/chaps|title=CHAPS|website=www.bankofengland.co.uk}}</ref>
|-
| {{flag|United States}} || [[Fedwire]]
|-
| {{flag|Uganda}} || UNIS (Uganda National Interbank Settlement)<ref>{{cite web|url=https://www.bou.or.ug/bou/payment_systems/Uganda_National_Interbank_Settlement_UNIS.html|title=Bank of Uganda|website=www.bou.or.ug|access-date=6 May 2018|url-status=live|archive-url=https://web.archive.org/web/20171010210432/https://www.bou.or.ug/bou/payment_systems/Uganda_National_Interbank_Settlement_UNIS.html|archive-date=10 October 2017}}</ref>
|-
| {{flag|Vietnam}} || IBPS<ref>{{cite web|url=https://sbv.gov.vn/webcenter/portal/vi/menu/trangchu/ttvnq/httt/htttdtlnh|website=sbv.gov.vn|title=NHNN - Hệ thống thanh toán điện tử liên ngân hàng}}</ref>
|-
| {{flag|Zambia}} || ZIPSS (Zambian Interbank Payment and Settlement System)<ref>{{cite web|url=https://www.boz.zm/zipss.htm|title=ZIPSS|website=www.boz.zm}}</ref>
|-
| {{flag|Zimbabwe}} || ZETSS (Zimbabwe Electronic Transfer and Settlement System)<ref>{{cite web |url=http://www.rbz.co.zw/funcitional-units.html |title=Funcitional Units |website=www.rbz.co.zw |access-date=13 January 2022 |archive-url=https://web.archive.org/web/20150831185822/http://www.rbz.co.zw/funcitional-units.html |archive-date=31 August 2015 |url-status=dead}}</ref>
|-
| {{flag|UAE}} || UAEFTS (UAE Funds Transfer System)<ref>{{cite web |url=http://www.centralbank.ae/en/index.php?option=com_content&view=article&id=133&Itemid=125 |title=Payment and Settlement Systems |website=www.centralbank.ae |access-date=13 January 2022 |archive-url=https://web.archive.org/web/20110815024553/http://www.centralbank.ae/en/index.php?option=com_content&view=article&id=133&Itemid=125 |archive-date=15 August 2011 |url-status=dead}}</ref>
|}

{{notelist}}

In 2010, the World Bank published a report on payment systems worldwide, which investigated these countries' usage of real-time gross settlement systems for large-value payments.<ref>{{cite web|url=http://documents.worldbank.org/curated/en/441671468332987906/pdf/701580ESW0P1230bal0Survey0Book02010.pdf |title=PAYMENT SYSTEMS WORLDWIDE: A SNAPSHOT - Outcomes of the Global Payment Systems Survey 2010|website=www.worldbank.org}}</ref>

==See also==
* [[Finance:Net settlement|Net settlement]]
* [[Finance:Automated clearing house|Automated clearing house]]
* [[Finance:Payment system|Payment system]]
* [[Company:SWIFT|SWIFT]]

==References==
{{reflist}}

[[Category:Real-time gross settlement| ]]

{{Sourceattribution|Real-time gross settlement}}