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Tuesday, September 27, 2016

Payments initiatives reflect growing need for speed

Strategic initiatives aimed at lowering electronic transaction times reflect a growing interest in faster electronic payment transactions in public and private sectors, payments analysts have noted. Some attribute heightened awareness of transaction times to efforts at implementing EMV (Europay, Mastercard and Visa) technologies following the Oct. 1, 2015, liability shift. Others credit an ongoing scourge of high-profile data security breaches for the retail industry’s interest in real-time payments as a deterrent against fraud.

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