New instant retail payment schemes will be launched in Hong Kong and Malaysia this year, enabling these jurisdictions to join Australia, Singapore, Thailand and the Philippines in the real-time retail payments club. Japan will also upgrade its retail payments network.
As a result, since the UK first launched its Faster Payments Service in 2008, around 35 countries across the globe have adopted or are adopting payments in real time, 24-hour, seven days a week, 365 days a year.1 These new instant
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