Finance Breaking news ECB to test instant cross-currency payments via Target last financial news

Breaking-Finance.Com - The European Central Bank is kicking off a project with Sverige Riksbank that will investigate whether and how Target Instant Payment Settlement (Tips) could support payment transactions across different currencies.

Finance Breaking news ECB to test instant cross-currency payments via Target last financial news

Breaking-Finance.Com - The European Central Bank is kicking off a project with Sverige Riksbank that will investigate whether and how Target Instant Payment Settlement (Tips) could support payment transactions across different currencies.

Finance Breaking news ECB to test instant cross-currency payments via Target last financial news
06 October 2020 - 09:30

Breaking-Finance.Com - The European Central Bank is kicking off a project with Sverige Riksbank that will investigate whether and how Target Instant Payment Settlement (Tips) could support payment transactions across different currencies. Tips is a service that settles payments in central bank money in real time and around the clock. It currently supports the settlement of instant payments in euro, but also has the functional capability to support other currencies. The project with Sweden's central bank will begin this month with the first settlement of instant payments between euro and Swedish kronor scheduled for May 2022.The initiative comes as a response to the increasing consumer and business needs that stem from the growth of cross-border e-commerce, tourism and migration flows.

. A customer in the euro area could transfer euro in payment for goods in Sweden in the same way. Other countries, with other currencies, that join the Tips platform could also benefit from cross-currency instant payments, states the ECB.The rise of real-time payments will be will be discussed in depth at EBAday 2020. For delegate passes, register now and join leaders from across Europe's payments ecosystem as EBAday addresses 'The Turning Point in Payments Transformation'.

Source = Breaking-Finance.Com

Financial breaking news

This news 10 hits received.

Finance Breaking news ECB to test instant cross-currency payments via Target last financial news


Finance Breaking news ECB to test instant cross-currency payments via Target last financial news


Finance Breaking news ECB to test instant cross-currency payments via Target last financial news


Finance Breaking news ECB to test instant cross-currency payments via Target last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Ripple weighs move to London over XRP's security status last financial news
Finance Breaking news Ripple weighs move to London over XRP's...
Finance Breaking news TrueLayer enters Australian Open Banking market last financial news
Finance Breaking news TrueLayer enters Australian Open Banking market...