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ClearBank Onboards First Clients to T2 European Payments System

Fintech Finance

Central banks and commercial banks can submit payment orders in Euro to T2, where they are processed and settled in central bank money, i.e. money held in an account with a central bank. T2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem.

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From PSD2 to PSD3 and PSR – European Parliament sets out its vision on the future of payments

Neopay

The Parliament maintains the Commission’s proposal to provide for the option that payment institutions may open safeguarding accounts with central banks, as payment institutions have frequently faced the challenge that credit institutions refused their requests.