The European Commission is considering new rules to speed up the take-up of an i...
FILE PHOTO: European Commission Vice-President Valdis Dombrovskis attends a news conference in Brussels, Belgium, November 21, 2018. REUTERS/Yves Herman
The ECB’s TARGET Instant Payment Settlement system will let people and companies in Europe transfer euros to each other within seconds and regardless of the opening hours of their local bank This is seen as a direct challenge to U.S. firms like PayPal, Google, Facebook and Amazon, and China’s Alibaba and Tencent which currently dominate such services in Europe.
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