Sitemap

Switzerland Launches Instant Payment System

CorD Recommends

Germany’s Duden Dictionary Expands with 3,000 New Words Reflecting Modern Times

The latest edition of Germany’s iconic Duden...

Indiana Jones Hat Sold at Auction for $630,000

A brown felt fedora, custom-made for the...

EU Nature Restoration Law Begins, Aiming to Revive Ecosystems

The European Union’s ambitious Nature Restoration Law...

The EU Imported 105,000 Tons of Coconuts Worth 146 Million Euros Last Year

In 2023, European Union member states imported...

Serbia and Dominica Sign Cooperation Protocol Between Foreign Ministries

Serbia and Dominica have signed a Protocol on Cooperation between the foreign ministries of the two countries, according to...

Gold Bars Worth a Million Dollars for the First Time in History

For the first time in history, a gold bar is worth a million dollars, thanks to rising precious metal...

Paetongtarn Shinawatra Becomes Thailand’s New Prime Minister

Paetongtarn Shinawatra, daughter of former Prime Minister Thaksin Shinawatra, has been appointed as Thailand's new prime minister after receiving...

Germany’s Duden Dictionary Expands with 3,000 New Words Reflecting Modern Times

The latest edition of Germany’s iconic Duden dictionary has been expanded by 3,000 new words, while 300 outdated terms...

Indiana Jones Hat Sold at Auction for $630,000

A brown felt fedora, custom-made for the film *Indiana Jones and the Temple of Doom* and worn by actor...

Swiss companies and consumers are now able to make instant electronic payments, catching up with other European financial centers where ultra-fast transfers are becoming increasingly popular.

Instant payments allow credit transfers to be completed within 10 seconds of making a payment, instead of waiting days for the transaction to finalize. They have been in use in Europe since 2017, and in the US since last year.

In Europe, the use of instant payments has grown from 5.2% of all credit transfers in October 2019 to 17.8% in February this year, according to data from the European Central Bank.

Around 60 financial institutions are capable of receiving and processing instant payments, covering more than 95% of Swiss retail payment transactions, according to the Swiss National Bank (SNB), which launched its scheme with financial systems provider SIX.

In the coming months, other banks are expected to announce similar services, SNB said, with all financial institutions in Switzerland expected to be included by the end of 2026.

Read more...

Sledding, Planting Vegetables, and Eating Ice Cream Among Recommendations for Reforming the UK School Curriculum

Primary school students in the UK should have the opportunity to eat ice cream on sticks, plant vegetables, and knead dough for bread, as...

Serbia and Dominica Sign Cooperation Protocol Between Foreign Ministries

Serbia and Dominica have signed a Protocol on Cooperation between the foreign ministries of the two countries, according to a statement from the government. The...

Despite the rise of mobile payment apps, the Swiss remain attached to physical cash, which remains the most widely accepted payment method by companies with physical retail locations.

“This market launch represents another important milestone and reflects the collective commitment of stakeholders towards a cashless payment future in Switzerland,” SNB stated.

Related Articles

EU Nature Restoration Law Begins, Aiming to Revive Ecosystems

The European Union’s ambitious Nature Restoration Law came into force on 18 August, marking a significant step towards reversing biodiversity loss and achieving climate...

The EU Imported 105,000 Tons of Coconuts Worth 146 Million Euros Last Year

In 2023, European Union member states imported 105,104 tons of coconuts from non-EU countries, valued at 146 million euros, according to data released by...

Germany Retains Position as the Largest Financier of the European Union

In 2023, Germany contributed more funds to the European Union budget than it received from Brussels, according to an analysis by the German Economic...

Swiss Institute Achieves New World Record for X-Ray Imaging Precision

The Paul Scherrer Institute in Villigen, Switzerland, has shattered its own world record by achieving unprecedented precision in X-ray imaging, capturing a computer chip...

Electric Car Numbers Surge Nearly 50% in the EU in One Year

The number of electric cars in the European Union has surged by nearly 50% in just one year, according to Eurostat.  Last year, 1.5 million...

Comment

Rewarding Friendship

Every successful relationship evolves, so future collaboration between Switzerland and Serbia will likely enhance sustainable FDI, boost Serbia’s innovation capacities and support the economy’s...

H.E. Urs Schmid, Ambassador of Switzerland to Serbia

Whirlwind of Remarkable Events

Diplomatic relations between Switzerland and Serbia were established back in 1916, and political relations between the two countries have been strong and diverse ever...

Ana Govedarica, President of the Swiss-Serbian Chamber of Commerce (SSCC)

Three Goals for a Better Future

Digitalisation, science and research are crucial to the SSCC’s work, because they are critical to the development of Serbia’s economy, healthcare and overall progress Swiss...