Still, implementation teams will face more detailed decisions to make about how to design a system that works in their environment and aligns with these Principles. The longer set of Level One Practices spell out, in greater detail, how to practical guidance for enabling L1P aligned outcomes.
The L1P Principles
An Inclusive IPS should embody all seven of these core Principles:
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Read more: Instant Payment
Instant Payment
Credit push transfers of funds from the payer to the payee that are completed in real-time with funds immediately available for use by the receiver
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Read more: Interoperable
Interoperable
Scheme enables bank and non-bank DFSPs to seamlessly exchange payments
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Read more: Pay Everywhere for Anything
Pay Everywhere for Anything
End users can send and receive payments for all necessary purposes
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Read more: Inclusive Governance
Inclusive Governance
Scheme offers equal ownership opportunities to DFSPs, and input mechanisms to all participants
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Read more: Low Fees for End Users
Low Fees for End Users
Scheme ensures transaction fees are affordable for end users
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Read more: Safe Payments
Safe Payments
Scheme ensures that users can conduct their transactions safely
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Read more: Shared Capabilities
Shared Capabilities
Scheme and DFSPs jointly invest in shared capabilities
Go Deeper: L1P Practices & Tools
Want to understand how to put these principles into practice? The Implementor’s Checklist allows you to explore a set of detailed practices and tools that correspond to each L1P Principle. Check out our Practices page to learn more.
Browse the Library
Prefer to browse our full collection of downloadable resources? Peruse our searchable library of documentation to download full reports on related L1P topics.
