Instant payments have become an increasingly important part of the payments market as the digital economy develops and consumer expectations for fast and convenient financial services grow. With instant payments, intermediaries disappear and transaction times are shortened. This reduces the economic costs of payments, which benefits both businesses and consumers. Companies can then have better control over their cash flow and improved liquidity. Consumers can access their money quickly, which is important in many payment situations and particularly valuable for beneficiaries who are financially vulnerable. Among the merchants, hairdressers and restaurants that participated in the Riksbank's survey on payments, more than half responded that it is important that payments are received into the account immediately, instead of 1-3 days later. This is particularly important for firms with small average customer payments.

On the other hand, there are some retail payments that are not considered suitable for immediate settlement, such as batch payments for salaries and government payments. These are best handled at scheduled times to efficiently manage large transaction volumes, facilitate liquidity planning and enable the necessary controls that reduce the risk of error and fraud.

Despite several advantages of instant payments, some challenges regarding security remain. For example, it may be more difficult to carry out checks to prevent money laundering and terrorist financing. In addition, various forms of fraud can be more difficult to stop than card payments and regular bank transfers due to their speed.