Central Banking

Bank of Estonia scraps new payments system

bank-of-estonia

The Bank of Estonia yesterday announced it was abandoning plans to implement a new interbank retail payment system following a lack of interest from commercial banks.

Estonia's existing domestic interbank payment system – Esta – does not meet the requirements for entry into the forthcoming Single European Payments Area (Sepa), which prompted the central bank to propose in January that banks switch to an alternative designed by the French company Systèmes Technologiques d'Echange et de Traitement

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