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RT2: A strategic transformation for UK payment providers

The Payments Association

RT2: Renewed real-time gross settlement marks transformation for UK payment providers 9 June 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? RT2, the UK’s new Real Time Gross Settlement service, and its transformative impact on the payments ecosystem.

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The Journey of Payments and Clearing Systems in India

Finextra

Clearing houses, often managed by the RBI or lead banks, facilitated the physical exchange and settlement of cheques. This was labor-intensive and time-consuming. Future Vision: The aim is to reduce dependency on physical cash, improve settlement efficiency, and offer programmability.

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Unlocking the Future of Global Payments: A Deep Dive into China’s CIPS

Finextra

China’s Cross-border Interbank Payment System (CIPS) is rapidly emerging as a central artery in the internationalization of the Renminbi (RMB), offering a robust infrastructure for cross-border settlements and reshaping how global institutions engage with China’s markets. What Is CIPS and Why Does It Matter?

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Key considerations for the adoption of digital currencies

Finextra

They will need to co-exist with existing clearing and settlement processes and infrastructures, and this means interoperability is crucial. The DLT network provides a highly secure and reliable platform for the exchange of the digital currency as part of clearing and settlement. The transfer volume of stablecoins hit highs of $717.1

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Successful Migration of the Kenya Electronic Payment and Settlement System to the ISO20022 Global Messaging Standard

Fintech Finance

The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). KEPSS, which is Kenya’s Real-Time Gross Settlement (RTGS) system, is operated by CBK to process large-value and time-critical payments.

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Project Meridian FX: Joint Project by the Eurosystem and London Centres, and the Bank of England, to Test Synchronised Settlement in FX

Fintech Finance

The project will provide insights on how operators of real-time gross settlement (RTGS) systems could enable interoperability with new payments technologies, such as distributed ledger technology (DLT). The experiments will take place towards the end of 2024.

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BOE: Banks Don't Get Protection From Digital Currencies

PYMNTS

Later in the summer, the BoE hired IT firm Accenture to revamp and revitalize its Real-Time Gross Settlements (RTGS) service, which handles daily transactions for financial institutions.