Cybersecurity Instant Payments Real Time Gross Settlement (RTGS) 
Finextra
JUNE 11, 2025
Electronic Clearing Service (ECS) (1990s): Introduced for bulk, repetitive payments like salary disbursements and utility bill collections. This was a step towards automated recurring payments. Unified Payments Interface (UPI) (2016): The game-changer. Its simplicity, interoperability, and low cost made it an instant success.
PYMNTS
DECEMBER 5, 2018
Central banks must work hard to keep up with the ever-changing payments landscape. By 1990, many countries had real-time gross settlement (RTGS) systems in place to rapidly clear and settle high-value transactions. Despite the evolving nature of the RTGS space, one need has remained constant: security.
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