Real-time Retail Payments Platform (RPP)

Real-time Retail Payments Platform (RPP) is a platform which provides real-time payment services, targeted at low to medium value payments and available 24x7, responds to the demands of an increasingly online, interconnected world.

Real-time Retail Payments Platform (RPP) offerings

  • Greater Convenience

    24x7 services, anytime, anywhere

  • Increased Transparency

    Obtain transaction outcomes in real-time

  • Enhanced Finality and Certainty

    Make payments with confidence

  • Proxy Payments

    Address payments with mobile numbers and NRIC numbers

  • Wider Reach & Inclusiveness

    Pay anyone, anywhere

How does RPP benefits customers

Customers of financial institutions connected to the New Payments Platform will be able to make or receive payments in a matter of seconds. The platform also supports the flow of information with these payments, carrying extended data to describe a payment or allow the attachment of documents like invoices and receipts. And all of this can happen 24 hours a day, 365 days a year.

RPP also offers consumers (via participating institutions) a simpler way to pay through a Proxy Addressing Service. Once consumers register for the Proxy Addressing Service, they can receive payments via easy-to-remember information such as mobile numbers or NRIC numbers, without the use of banking account information. Consumers will be able to move their Proxy Addressing Service identifier between accounts or financial institutions, empowering customers to route their incoming payments easily.