The availability of “fast payment” services has more than doubled since 2010 and is expected to continue growing, according to a report issued on Tuesday by the Committee on Payments and Market Infrastructures (CPMI), the standard setting organization for global clearing and settlement systems.

Fast payment services make funds available instantly, around the clock. They have certain benefits for users of the financial system, the CPMI report notes, such as facilitating time-sensitive payments, allowing households to better track their finances, helping businesses manage their cash positions, and supporting financial inclusion.

However, these sorts of services create additional challenges for payments systems, the report adds, and may have implications for central banks and other financial system players.

The report calls on central banks to consider their role in the development of fast payment services, so they can support the development of safe and efficient fast payments, which may require changes to their operations.

“Fast payments have the potential to generate benefits for various stakeholders and for society in general, provided that risks are properly managed. They can play a key role in upgrading and modernizing a jurisdiction’s payment system,” said Benoît Cœuré, chairman of the CPMI, in a news release.

“Central banks can contribute to the development and implementation of fast payments through their traditional roles as catalysts for change, as well as operators and overseers of payment systems,” he added.