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The Necessity Of Implementing The Innovative Service (Instant Payments) Into Romanian Banking System

Author

Listed:
  • Camelia VECHIU

    (”Constantin Brâncoveanu” University of Pite?ti, Romania)

  • Gianina NEGRAU

    (”Constantin Brâncoveanu” University of Pite?ti, Romania)

Abstract

The sustainable development of new technologies having considerateadvantages, such as fast, simple andmovable communication and socialization, puts an increasing amount of pressureon the banking system to adapt to its customers’ needs, but also to respond tothe competition created by non-financial payments or loans providers. Byintroducing instant payments, we will be to perform and benefit from RONtransfer operations in a matter of seconds, simply by using the personal bankaccount. These instant payments will certainly improve the e-commerce and willhelp companies or institutions simplifying their operations and moving towardsdigital means. This result was already proved by countries such as Denmark and United Kingdom, which are alreadyusing this type of payments.

Suggested Citation

  • Camelia VECHIU & Gianina NEGRAU, 2018. "The Necessity Of Implementing The Innovative Service (Instant Payments) Into Romanian Banking System," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 3(3), pages 120-123.
    • Handle: RePEc:brc:brccej:v:3:y:2018:i:3:p:120-123
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    More about this item

    Keywords

    instant payments; competitiveness; electronic commerce; european standards;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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