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Last year, only 25 real-time payment systems were operational worldwide — that number is growing rapidly. Demand is also heating up for real-timegrosssettlement (RTGS) systems. The governor of the Federal Reserve is pushing conversations on getting an RTGS system in the U.S., Even as the U.S.
This access, the letter says, will eliminate the bottlenecks of working through intermediaries while extending the reach of real-time payments to those who need it. Currently, access to the Fed’s Real-TimeGrossSettlement (RTGS) system is limited to financial institutions that hold deposits.
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