![]() By Edith Rigler Senior Tutor, Transaction Banking Academy Open a financial services publication or attend a payments conference and you are confronted with “instant”,“ immediate”, “real-time”, or “faster” payments. What is this all about? For decades, making a payment took time … and often quite a lot of time. Whether a payment arrived at its beneficiary the next day, or after three days, or a week depended on the country, whether it was a domestic payment or had to travel across borders, and how many banks were involved in the middle. In some countries payments moved faster than in others. The consumer had no say in the matter. Short of choosing a large-value RTGS system with immediate finality, the consumer was dependent on his country´s ACH system and its clearing cycle.
1 Comment
|
Sign up to receive our newsletter
Make sure you hear the news about new courses and other developments in transaction banking by signing up for our newsletter
Categories
All
News & ResourcesWe welcome submissions from educational and commercial organisations, subject to our content guidelines. You can get a monthly update straight to your inbox by signing up below. Archives
July 2018
|