[2015-10-15] Clearing and Settlement Agency Stet Wants Faster Payments

[jdebunt]

http://digitalmoneytimes.com/clearing-settlement-agency-stet-wants-faster-payments/

Traditional financial institutions are struggling to remain relevant in this day and age of mobile and cashless payments. Credit cards are becoming even more common, yet that payment method is not without its flaws.  Most of the mobile payment solutions are built on top of an existing financial infrastructure, but once clearing and settlement agencies start to build their own instant payment platform, you can be sure the game is afoot.

[RustyNomad]

Never hear of 'Stet' before but seems like they are one of the major players...

Due to the rise in transactions over the past few years, Stet is now in charge of handling over 15 billion transactions per year.

That's about 475 transactions per second.

I wonder if they will be making use of blockchain technology for the payment platform they plan on developing. No mention of that is made in the article.

Instead of relying on a third-party agency or software provider to do so, Stet will develop their own instant payment platform for European Payment Service Providers.