Fundamental characteristics and functional features of fast payments systems

The actual article analyzes key characteristics of fast payments systems functioning, in particular, by showing the comparison of the settlement processes, which occur within the operational infrastructure of the traditional payment system and the fast payments system. The article also considers the newly developed fast payment system of the Bank of Russia (FPS) by presenting the scheme of the FPS's two-factor operational infrastructure and analyzing the mechanisms for managing liquidity within the whole operational infrastructure of the BoR-PS (Bank of Russia Payment System) for transferring funds in FPS.