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Peru Taps Vocalink In Payments System Overhaul

PYMNTS

“We are committed to developing further partnerships around the world to build global, ubiquitous, real-time payments.”. Separately, a number of retailers, among them giants Target and Walmart, have requested that the Federal Reserve create a real-time interbank settlement system.

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Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

is still scrambling to catch up, however, and major financial players are hoping it can achieve its own ubiquitous real-time payments system by next year. The system would facilitate 24/7 year-round interbank settlements of faster payments and also provide a liquidity management tool to support transfers between Federal Reserve accounts.