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RSS FeedsEurozone scrambles to beat cryptocurrencies by consolidating instant payment system
(WorldNews Europe)

 
 

27 june 2019 00:46:02

 
Eurozone scrambles to beat cryptocurrencies by consolidating instant payment system
(WorldNews Europe)
 


Brussels - The eurozone could have an instant payments system shared by all banks in the bloc by the end of 2020, finance industry officials say, as lenders face more competition from the likes of Facebook and other tech firms. Real-time payments have been possible in the 19-country currency bloc since 2017, but only about half of the eurozone´s banks have joined the scheme that underpins these transactions and it is mostly used for domestic payments. The project could now accelerate as banks feel the heat of new competitors such as Facebook, which last...


 
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