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A blueprint for a new RTGS service for the United Kingdom

The Bank of England is today setting out its blueprint for a renewed Real-Time Gross Settlement (RTGS) service that will deliver a resilient, flexible and innovative sterling payment system for the United Kingdom to meet the challenges posed by a rapidly changing landscape.

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Big US banks introducing Zelle

For years, US banks have watched as their youngest customers split restaurant checks, shared utility bills, and pitched in for parties using third-party payment apps such as Venmo. Now, they’re trying to take back the person-to-person payments business by launching their own app.

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EBA rethinking PSD2 authentication rules

The European Banking Authority is to relax proposed rules on a requirement for strong customer authentication for all payments under EUR10, after being on the receiving end of a volley of complaints.

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Kenyan Instant Payments scheme arriving soon

The Central Bank of Kenya (CBK) has given six banks the go ahead to launch a mobile money transfer platform to compete directly with M-Pesa, starting new competition in the lucrative financial services market.