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-Fed planning to create new payments system

Aug 06, 2019 - Global Banking News

Global Banking News - 06 August 2019

The apex bank said that the system would be used to speed up money transfers. The plan is to develop a faster payments system for banks so that they can send payments across securely, faster. It would be used to exchange money and provide a public option to another real-time network built by big banks.

The US Federal Reserve is said to be planning to create a new payments system.

It is believed that the new system would provide services to a...