The new service will expectedly come into use in 2021
Swedes will be able to make instant bank payments 24/7. Source: shutterstock.com
Within the coming years, it may be possible for all Swedish bank customers to make payments to another bank instantly 24/7 every day of the year. This will become possible in that the Riksbank is planning to join the ECB’s payment platform TARGET Instant Payment Settlement (TIPS), Riksbank says on its official website.
TIPS is assessed to be the fastest and most cost-efficient means of giving financial institutions access to RIX 24/7 every day of the year. An important factor in the coming negotiations will be that the platform meets national security requirements.
According to the Riksbank, the aim is for the new service to come into use in 2021.
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