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The World Bank has developed a Fast Payments Policy Toolkit, which consists of a global fast payments tracker as well as other resources pertaining to the topic. The tracker provides updates on jurisdictions around the world (by income level and geographic region) that have implemented fast payments and also provides information on different implementation aspects (such as technical features, technology, access rules) for each such jurisdiction.

PayPal -owned payments app Venmo announced support for instant transfers to U.S. bank accounts. The feature is an optional alternative to Venmo's standard bank transfer service, which typically takes one to three business days to process transactions. With Instant Transfer, however, funds from your Venmo account can hit your bank account within minutes.

The RTP network has a single price for all participants with no volume discounts, no volume commitments and no monthly minimums to ensure that financial institutions of all sizes participate on the same terms. Financial institutions pay only for the transactions they originate.

The Clearing House, owned by 24 large U.S. banks, is currently operating a real-time payments system.  An independent assessment found that the RTP network met all 36 criteria set by the FRB-sponsored Faster Payments Task Force. Those 24 banks have individually or collectively paid hundreds of millions of dollars to build that system.

The Fed has defied lobbying and the insistence of some Republicans that banks should control faster payments to prod the US into the 21st century. Even so, its promised FedNow service is a distant prospect: it may only launch in 2024.

Mexican central bank's real-time payment system CoDi (Cobro Digital, Digital Charge) went live on September 30. Use of the payment system, which uses QR codes or NFC, requires a smartphone and an account at a financial institution.

The Central Bank of Brazil is developing a new instant payment system that will change how funds are sent within the country. Brazilian citizens will purportedly be able to send and receive money in seconds, instead of several hours and even days.

New FIS report finds 54 countries now have active real-time payment programs, up from 40 in 2018 and nearly four times as many as 2014. India remains the global leader in real-time payments usage with 10-fold increase in value and eight-fold increase in transaction volumes driven through its national system over the last year.

FedNow will promote financial system resiliency. As we discovered in 2008, big banks can fail. The Fed cannot. Unlike Facebook's proposal, which would have used a distributed ledger to move funds, risk in the TCH network is heavily centralized. Any failure to fund the joint account or compromise of the ledger could impact the entire system. Instead of criticizing the Fed, the big banks should be applauding FedNow as parallel system that could serve as a backup to their own.

The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency.

The European Central Bank, the Eurosystem and Sveriges Riksbank concluded a cooperation agreement offering Sweden access to the Eurosystem's TARGET Instant Payment Settlement (TIPS) to support the Swedish instant payment service, called RIX-INST. Based on this agreement, electronic payments made in Swedish krona can be settled on the settlement platform for instant payments operated by the Eurosystem.

The Central Bank of Brazil has kicked off a new phase in the testing process for Pix, the upcoming national instant payments platform, with the simulation of transfers. The tests of the technology underpinning the settlement infrastructure will see participating institutions testing their settlement flows, so the process where resources are transferred from the payer to the recipient, with fictitious data.

Deutsche Bank's Bangkok Branch launched PromptPay instant payments for corporations in Thailand. PromptPay collections use either an account number or a corporate tax ID number to receive incoming payments nationwide, as well as corporate income tax refunds from the Revenue Department without any additional charges.

"The administration is taking great care in deciding what will appear on the front of the stimulus checks. Americans would be better off if the government put similar effort into getting out as much money to as many people as quickly as possible."

Congresswomen Rashida Tlaib and Pramila Jayapal introduced a new stimulus proposal, Automatic BOOST to Communities Act brings back the idea of a digital dollar, describing the concept using similar language to a series of bills introduced last month. Under the ABC Act, Congress would authorize the Federal Reserve to create "FedAccounts," meaning "Digital Dollar Account Wallets," which would allow U.S. residents, citizens and businesses located in the country to access financial services.

For the 2019 calendar year, the Zelle Network processed $187 billion in payments on 743 million transactions. Year-over-year payment values increased by 57%, while transaction volume increased by 72%.

The Centrale Bank van Curaçao en Sint Maarten has contracted equensWorldline SE, a subsidiary of Worldline, to introduce an instant payments system on top of their current clearing & settlement system.

Embarking on an instant payment project after these three major economies have already done so may be an advantage for the Fed. While interconnectivity, fraud prevention and directory services might be something the Fed wants to solve at the initial launch - given its three objectives related to ubiquity, safety and efficiency - each approach faces a trade-off against time to market. The potential impact of Facebook's libra may push timing higher up the pecking order. The Fed faces important choices ahead.

The country's entire banking community has switched to offering instant payments using the Clearing and Settlement Mechanism of the central bank. "After this successful switch, all interbank payments in Aruban florin initiated in Aruba can be instantly processed 24/7/365. The IP CSM is fully compliant with international standards and ISO20022."

"Venezuelan customers say that making their payments for Zelle in dollars is "easy and fast" in a context of economic crisis and current service failures."