As Poslovni Dnevnik writes on the 23rd of October, 2020, the execution of payment orders which involves the immediate transfer of funds to the payee's account for clients of Hrvatska postanska banka (HPB) is set to become a reality on October the 29th, 2020. On that day, NKSInst, a new HPB payment service for the Republic of Croatia, developed by Fina and approved by the Croatian National Bank, will kick off a new era of development of modern payment service for HPB clients.
The new HPB payment service will be available 24/7, 365 days a year. HPB was among the first banks in Croatia to join a new scheme for instant payments made in Croatian kuna and offer its clients the service of conducting payment transactions in almost real time and continuously available 24/7/365. Transaction speed and constant availability, along with, as always, maximum security, are precisely the main advantages of the new HPB payment system when compared to the execution of standard payments. In order for the order to meet the prerequisites for instant payment, it must be in Croatian kuna, the maximum amount is 100,000 kuna, and the payment/payee must be assigned to a bank that has also joined the instant scheme.
Instant payments are intended for both individuals and businesses, and access to the new HPB payment service is provided through the digital channels mHPB and Internet banking. HPB is also participating in the new payment system as a payee's bank and a payer's bank.
Instant payments allow not only the shortening of the time required for the transactions, but also the possibility of executing it at the moment when it is the most convenient for the service user. It provides the payer with the possibility of the simple fulfillment of that obligation immediately, ie at any time.
In addition to payments made using an IBAN, payment orders will soon be able to be placed according to additional identifiers such as an OIB, a mobile phone number and/or an e-mail address, which the user will pre-register in the system. For these options, users will be able to easily register on mHPB and pay in just a few clicks to a specific mobile phone number from their phonebook or by entering an e-mail or OIB instead of the recipient's IBAN. Orders placed in this way will be able to be executed by both regular and instant payment.
The application of a new innovative instant HPB payment service that enables customers faster and easier financial management is a confirmation of the successful implementation of HPB's digitalisation strategy, further technological progress and dedicated work on the offering of quality to clients that brings new trends in banking and strengthens the bank's overall competitiveness.
The first participants in the NKSInst payment system, apart from HPB, are Partner banka and PBZ, and the Croatian National Bank announced that it supports the development of modern payment services and expects other banks to provide interbank instant payments to their clients throughout 2021.
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