10. 4. 2025

Instant Payments in Czechia: Adoption and Future Trends

Ivan Trubelík, Tomáš Karhánek, Simona Malovaná, Aleš Michl

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.

JEL codes: E42, E58, G21, O33

Keywords: CERTIS, instant payment system, real-time settlement, transaction efficiency

Issued: April 2025

Download: CNB WP No. 4/2025 (pdf, 10 MB)

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