FIS launches infrastructure for real-time payments
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FIS launches infrastructure for real-time payments 30 August 2022US Reporter: Lucy Carter
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FIS has launched RealNet Central and Central Bank Digital Currencies (CBDC) Virtual Lab to create an infrastructure for real-time payments.
RealNet Central is a central infrastructure payment solution which allows central banks to adopt real-time payment and work in digital-first economies.
The solution connects a country’s businesses, consumers, financial institutions, and government entities to real-time networks, domestically and internationally.
CBDC Virtual Lab is a collaboration with M10 Networks, and supports countries’ integrations of CBDCs into their economies. Participants can pilot issuance, transfer, redemption, offline payments, programmable payments, retail, wholesale, and cross-border payments.
Commenting on the announcement, Aman Cheema, head of global real-time payments and CBDCs at FIS, says: “The global economy has rapidly shifted toward digital-first mindsets and methods.
“While the idea of making payments in real-time may sound simple, the reality of delivering on that promise is enormously sophisticated, especially when doing so across borders. Our latest offering sets out to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem.”
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