CNB WP 4/2025 – Instant Payments in Czechia: Adoption and Future Trends

In this paper, the authors describe the implementation and functioning of the instant payment system in the Czech Republic, as well as the role of the Czech National Bank in efforts to increase the efficiency of payment transactions. Utilizing daily data from the Czech interbank payment system CERTIS, the study evaluates the adoption of instant payments by clients over time and the influence of individual bank characteristics on this adoption. The findings show that, in the past calendar year, instant payments in the domestic market accounted for half of all retail interbank transfers. The authors also place the Czech instant payment system in an international context, discussing the benefits and security risks associated with such systems, as well as the potential future development of payment systems.