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Payment Collections & Settlements
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FAST
Fast & Secure Transactions, generally known as FAST is a mode to instantly transfer funds between participating banks in Singapore securely. This electronic funds transfer service makes it easy and convenient for customers to manage their finances in one place.
PayNow
PayNow is a peer-to-peer fund transfer service that enables all users of the participating banks and NFIs to settle funds via their bank accounts or e-wallets to another via Virtual Payment Address, mobile number, or Singapore NRIC/FIN instantly.
Why Decentro?
Setup Fees
High (2K - 10K USD)
Completely FREE
Timelines
3-4 Months
~ 2 Weeks
Settlement Times
Atleast T-1 to T+2
Real-time Settlements
Service Provider
High reliance on single service provider and bank
Backend powered by multiple banks with switchability
Customer Service
Turnaround time of 1-2 working days atleast
Turnaround within 1-2 hours
Scalability & Flexibility
Difficult to scale due to a rigid underlying structure
Customizable APIs and seamless scalability
Advantages
Unlimited rollover of unused API hits
Global from The Get Go