Difference between Instant, Real-Time, Faster and Immediate Payments?

Fundamentally there is no difference, it is simply semantics. 

• In, The UK scheme is called Faster Payments, 
• While in Singapore the scheme is called G3 which they describe as ‘Immediate Payments’. 

They all refer to the same thing – and that’s moving from an off-line, batch based payments processing system, to an on-line system which processes payments as they are received.

The terms are used interchangeably depending on where you are in the world and who you’re talking to. Instant Payments is the term that seems to be used the most widely in the market.