What is SCT in finance?

The 24/7 availability of SCT is particularly beneficial for businesses and individuals who require urgent payments or who operate across different time zones. This service ensures that funds can be transferred without delay, regardless of the day or time.

The Single Credit Transfer (SCT) is a revolutionary service offered on the National Payments Platform (NPP). This innovative feature allows for seamless and nearly instantaneous payments to be made at any time of the day, every day of the week.

Unlike traditional banking systems, SCT eliminates the need for customers to wait for business hours or specific processing windows to complete transactions. With SCT, transactions can be processed and settled in real-time, providing users with added convenience and peace of mind.

Moreover, SCT's compatibility with weekends and public holidays means that users can rely on the service to fulfill their financial obligations even during non-business days. This eliminates the need to plan around bank holidays or weekends, further streamlining financial processes.

The NPP's commitment to providing a reliable and efficient payment infrastructure is evident in the development of SCT. This service is designed to cater to the evolving needs of modern consumers and businesses, who demand faster and more flexible payment solutions.