Central Banking

RBA moves closer to implementing real-time payments system


The Reserve Bank of Australia (RBA) has moved a step closer to implementing a real-time payments system in the country after publishing a set of ‘core criteria' that will be used to assess proposals for the provision of such systems.

In June this year, the RBA's Strategic Review of Innovation in the Payments System said the need for fast payments where the recipient has visibility and use of the funds in near-to-real time was likely to become more pressing in future. The review set a deadline of

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