Clear

A very cost effective, safe, secure and efficient solution to manage bulk retail payments.

From the demand side, the general public stands to benefit in the form of lower risks of loss and unpaid transactions. In the case of integration with the RTGS, economies of scale are provided by channeling all payments through the same infrastructure and applications.

Clear has a pre-settlement and a post-settlement clearing component. Logically the flow is via the pre-settlement component (receipt of instructions validation, registration, determination of clearing obligations and submission of funds settlement instructions to the RTGS).

Benefits:
  • cost effective, safe, secure and efficient
  • operational costs, for example, may be lower than the costs experienced by central banks in the cash or cheque based payment systems
  • from the demand side, the general public stands to benefit in the form of lower risks of loss, unpaid transactions
  • can be fully integrated with the RTGS solution thereby providing the full ATS solution in line with the World Bank guidelines
  • messages in the system are based on the International Standard ISO 20022