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New settlement model for Faster Payments

A new simpler way to guarantee settlement between banks of payments made through Faster Payments, the UK’s 24/7 real-time payments service, has been introduced as part of changes announced today (Monday 5 October 2015) by Faster Payments Scheme Limited (FPSL). The new ‘pre-funding’ settlement system has levelled the playing field for participating Payment Service Providers [...]

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