December 6, 2017
The brave new world of global finance is getting braver. Real-time and near-real-time payments systems have changed the fabric of online commerce. - Patricia Pozuelo, Enterprise Technology Specialist, Intel
30+ countries have real-time payment processes of some kind (for example, Faster Payments in the UK, Singapore’s FAST); several have been in use for decades.
The reasons the US lags in development of its own RTP system: 1. The sheer number of financial institutions in the country compared to the rest of the world – the US has roughly 5,300 commercial banks and more than 6,000 credit unions ...