Payments News

Systems

Europe’s instant payments meet a roadblock: older bank networks

“Any real-time payment can be slowed down by friction at the receiving bank if it is not online or not properly equipped to handle faster payments. This was the case for ABN Amro, one of the largest banks in the Netherlands, which needed fiber optic connections to handle instant payments up to 15,000 euros ($18,455 U.S.) in less than 10 seconds at any time of any day.”