Statement 1: Pesonet is an account-to-account fund transfer system that supports bulk, recurring non-time sensitive payment transactions.

Statement 2: Instapay, on the other hand, provides real-time low-value payment transactions (50,000 and below) wherein transfer of funds amongst end-users, such as individuals, businesses and government, will be done near real-time with corresponding confirmation of credit to payee.

Which statement is correct and which is wrong?