Hungarian central bank sets out instant payments infrastructure plan
Company wholly owned by MNB to have system operational ‘by mid-2019’
Hungary’s central bank has decided that a company it owns will develop the core infrastructure for an instant payments system.
Giro Zrt will develop the payments system, the Central Bank of Hungary (MNB) said in a statement issued on March 27. The MNB said it expected the system to be functional by mid-2019.
Under previous governor András Simor, the MNB sold a 7.3% stake in Giro, a payments services company, but under the leadership of current governor György Matolcsy, the MNB reacquired the
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