Central Banking

Swift wins Australian real-time payments contract

australia-fundraising

Swift has won the contract to build a real-time payments system for Australia, in a move that will see the financial messaging service move into the high-speed domestic payments arena for the first time.

The Australian Payments Clearing Association (Apca) today revealed it had picked Swift following a "highly competitive" global tender process. The contract spans 12 years and includes both building and operating the system.

The Reserve Bank of Australia (RBA) kicked off the process of setting up

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