Which country employs the FAST system for its faster payments?

The FAST system, which stands for Fast And Secure Transfers, is employed by Singapore for its faster payment services. This system facilitates real-time fund transfers between banks 24 hours a day, benefiting both consumers and businesses by enabling immediate transactions. The initiative reflects Singapore's commitment to enhancing its financial infrastructure and promoting digital payments, making it a pioneer in the region for efficient payment systems.

Other countries listed do not utilize the FAST system specifically for faster payments. While they might have their respective systems or initiatives for quick fund transfers, Singapore's FAST is recognized for its speed and interoperability among local banking institutions. Understanding the function and implementation of such systems helps to appreciate how different countries are advancing their financial technologies and the benefits thereof in a global economy.