What is one reason countries have implemented instant payment schemes?

One key reason countries have implemented instant payment schemes is to provide quicker access to funds. This advancement in payment technology allows individuals and businesses to transfer money instantly, which is particularly beneficial in situations where speed is essential, such as payroll, emergency payments, or time-sensitive transactions. By enabling instantaneous transfers, these schemes improve cash flow for both consumers and businesses, allowing them to manage their financial situations more effectively. The ability to access funds rapidly supports economic activity and can enhance overall financial inclusion by offering a more efficient payment method to those who may not have access to traditional banking services.