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The Journey of Payments and Clearing Systems in India

Finextra

Real-Time Gross Settlement (RTGS) (2004): A major leap forward, establishing a robust system for large-value, real-time interbank fund transfers, enhancing systemic efficiency and reducing settlement risk. This was a step towards automated recurring payments.

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Third Parties Help Central Banks Ride RTP Rails

PYMNTS

Faster Payments Council (FPC), which will work toward a ubiquitous and secure faster payments system, offering 24/7 availability. Many of the central banks that launched their real-time gross settlement (RTGS) systems more than a decade ago are seeking to replace these aging systems with new ones.

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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

where almost everyone is now banked) and made the case for why the Fed was positioned as the best player to operate a ubiquitous, interoperable real-time payments network – even though the Fed doesn’t have a great track record at payments innovation ( #killthecheck ). Here’s where the canary flew in. shouldn’t be modernized.