Global Interchange for Financial Transaction or GIFT is IFTAS’ integrated payment and settlement system. Thoughtfully designed for improving operational efficiency of a country’s payment system and achieve digitization, its robust framework provides end-to-end straight-through processing (STP) of inter-bank payment messages. GIFT eliminates the need for manual cheques, thus simplifying processes and minimizing chances of fraud. This long-term scalable and cost-effective solution comes with end-to-end security that enables the co-existence of payment and settlement systems in a modular fashion.


  • Payment mode supported: Real-time, Batched & Bulk payment
  • STP of payment messages between source bank & destination bank through Central bank
  • End-to-End payment message lifecycle with tracking & reconciliation
  • Payment Messages supported: debit, credit, confirmation, rejection & reconciliation


  • Receive outward debit messages from banks, settle the transactions and pass the inward credit messages in real-time to the beneficiary banks
  • Generates inward credit advices to beneficiary banks and transmits them electronically to the banks
  • Interfaces with central bank’s core/ GL system for posting the accounting entries
  • Exchange of settlement reports to banks for reconciliation
  • Enforcement of rules related to the payment services, holidays, settlement windows and batch timings


Simple and intuitive

Light-weight architecture

Highly scalable (vertical)


No settlement Risk

Flexible and customizable

Stakeholder ease for participation and integration