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News in brief

Finnish banks call for real-time payments

News in brief

Finland’s banks are inviting proposals to replace their existing urgent payment system with a real-time system operating 24 hours a day, every day. Dubbed Pops, the current system was built in the early 1990s and is now “becoming obsolete”, says the Federation of Finnish Financial Services. The new system needs to cover at least the entire Sepa zone, and provide application-level acknowledgement of payments received by beneficiaries. Interested suppliers have until 12 September 2014 to submit ideas.

Filed by Email Christopher Brown nfcworld.com Published • Last updated 29 May 2014, 11:13

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