US and Europe set for real-time payments by end of 2017

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An instant payments service for the Single Euro Payments Area, developed under the auspices of the European Payments Council, is aiming to be live at the end of 2017, while the US plans to move rapidly with the development of its infrastructure, following the finalisation of terms with.

Specifications will be available in the first quarter of 2016 to enable banks and suppliers to start their work, said James Aramanda, president and chief executive at The Clearing House, adding that the US banks have a “growing sense of urgency that they are behind and getting behinder …

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