Swiss Central Bank, Stock Exchange Start Instant Payments Scheme
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Most Swiss companies and individuals are able to settle payments in seconds as of Tuesday, in what’s expected to be a boost for business and consumers.
The Swiss National Bank and SIX Stock Exchange said that the new instant payments system covers 95% of retail transactions. For now, about 60% of the country’s banks can process payments in maximum 10 seconds — 24 hours a day, including weekends and public holidays — with the remaining banks set to join by end 2026.