FIS launches infrastructure for real-time payments
30 August 2022 US
Image: Stockwerk-Fotodesign
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.”
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.”
← Previous payments article
SWIFT applies predictive analytics to reduce processing errors in cross-border transactions
SWIFT applies predictive analytics to reduce processing errors in cross-border transactions
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
