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Systems

Risk, fintechs and regs spark real-time payment reforms in U.K.

“The rise of digital payments, new non-bank competition, fraud challenges, a need for improved resilience and the changed regulatory environment are spurring two major updates to the U.K.’s faster payments system. The Bank of England is upgrading the U.K.’s Real-Time Gross Settlement (RTGS) system. Separately, the U.K. payments authority, Pay.UK, is developing a New Payments Architecture that […]
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Systems

Google And Amazon Favor Fed Role In Real Time Payments

“When the Federal Reserve issued a request for comment about whether it should provide a real-time payment systems (RTGS) to offer an alternative to the TCH real-time payments system (RTP), several tech firms were ready, just as some banks had feared. Banks, bank associations and state regulators in their comments had often suggested that access to […]