May 20, 2014
In US, we don’t have something which people enjoy in many countries across the word and that is an ability to make free real time peer to peer or other payments for any amount. In my discussion with payment experts, I learned that countries like Singapore, Australia and UK have this service free of charge. Even countries like Nigeria and India are offering such real time payment services. For instance, India has the RTGS (Real Time Gross Settlement) for large amounts and IMPS (Immediate Payment Service) payment services for low amounts available to the public at no cost.
In US, there are 3 ways to transfer money to another person: