Fintech giant FIS has launched an infrastructure offering to help central banks make the move to real-time payments and CBDCs.
RealNet Central promises to assist central banks as they seek to transform their markets to digital-first, real-time payment economies.
The infrastructure is designed to help a country’s businesses, consumers, financial institutions and government entities connect to real-time networks, both domestically and internationally.
FIS is also working to help central banks launch CBDCs through a virtual lab, created in collaboration with M10 Networks.
The lab allows central banks, commercial banks and other financial participants to experiment with - and pilot - core concepts of issuance, transfer, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments.
Aman Cheema, head, global real-time payments and CBDCs, FIS, says: “While the idea of making payments in real-time may sound simple, the reality of delivering on that promise is enormously sophisticated, especially when doing so across borders.
“Our latest offering sets out to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem.”
Read more at finextra.com