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Five Years of modern Electronic Payments System in Romania

News to be forwarded to our readers as we have a new success story to tell…

We are midway between celebrating the launching five years ago of the real-time gross and, respectively, the low value payments settlement system – ReGIS and SENT, the two major domestic payments related pillars of the Romanian EPS.

It’s about an essential market infrastructure for a competitive business environment – the Electronic Payments System within the national market, or, simply put, the semi-automatic processing to STP of the transactions related to the final settlement of domestic payment. The system was successfully launched five years ago by the National Bank of Romania (NBR), in close cooperation with TransFonD, the Ministry of Public Finance and the Romanian banking community.

The electronic straight through processing of inter-bank payments, either in real time (for the gross settlement) or same day final settlement for the low value payments, led to an European competitive funds transfer mechanism and significantly smaller fees for the settlement services. So the main result goes to the business community and tends to align its competitiveness with the EU landscape, at least at financial infrastructure level.
Business Information Systems is proud that, through its partnering customers – accounting for a significant share of the Romanian market, directly contributed to the stability and security of the National EPS.
By being involved, BIS is part of the success announced by the NBR.

 

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