Japan
Japan's Zengin system carries out the online processing of domestic funds transfers executed between financial institutions handling high, medium and low value transactions.This was the first supposedly 'instant payment' system launched in the world, although in reality it is more a Real-Time Gross Settlement (RTGS) central bank mandated system, with added retail bank and payment functionality. The 6th generation system is now operational, managed by Zengin-Net Corporation.
On 9 October 2018 a major renewal of Zengin will complete introducing 24/7/365 support, making it more truly an instant payment system rather than an RTGS as it extends its operating hours and moves to an 'always on' operational stance.
- Country
Japan
- Region
Asia Pacific
- Scheme name
Zengin
- Status
Live
- Operating Organisation
Japanese Banks’ Payment Clearing Network (Zengin-Net) Established in 2010
- Date of initial deployment
1973
On October 9th 2018 the scheme plans to end extend its core operating hours.