BIS, MAS Plots Blueprint for a Global Real-Time Retail Payments Network
The Bank for International Settlements Innovation Hub Singapore Center and the Monetary Authority of Singapore (MAS) published a proposed blueprint to enhance the global payments network connectivity via multilateral linkages of countries’ national retail payment systems. Titled Project Nexus, this blueprint outlines how countries can fully integrate their retail payment systems onto a single cross-border network, allowing customers to make cross-border transfers instantly and securely. According to a statement from MAS, “this blueprint will bring like-minded regulators and instant pay...
Source: fintechnews.sg