Central Banking

Swift starts work on pan-European real-time payment connectivity pilot

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Payment service provider Swift has begun working on a pilot that will see two of the largest instant payment systems in the euro area connected.

In a statement published on May 22, Swift announced it will be providing the messaging infrastructure to connect the soon-to-be-launched Target Instant Payment Settlement (Tips) system and EBA Clearing’s RT1.

“Europe has taken important steps to ensure customers and corporates can benefit from instant payments and we are pleased to be able to connect

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