Payment Provider Authorisation for RTGS Payments Overview

Payment Provider Authorisation for RTGS Payments

Where the required arrangements and Payment Facility set-up has taken place between the Payment Provider and the Participant* (refer to Payment Facilities Overview), Participants may use the RTGS payment service for matched Bilateral Demand Settlement Instructions (BDSI).

*In relation to the Payment Provider Authorisation for RTGS Payments Functional Specification, Participant represents the Settlement Participant and/or Controlling Participant.

Prior to any RTGS payment request from the above functions being sent to the Reserve Bank Information and Transfer System (RITS), the Payment Provider of the paying bank must authorise the funds obligation through the Payment Provider Authorisation for RTGS Payments Process. Once authorised, the CSP will send a RITS payment request to the RITS queue and where successful payment occurs between the receiving and paying Payment Provider Exchange Settlement Accounts (ESAs), they will receive a notification of the funds movement.

Confirmation of the settlement of funds will trigger the CSP to perform the settlement of security movement (for a BDSI).

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