Denmark’s Nets picked to build instant payment infrastructure in Hungary

Portfolio
Clearing house GIRO Zrt., wholly owned by the National Bank of Hungary (MNB), has selected Nets A/S of Denmark to build the core infrastructure for Hungary’s instant payment system, to be launched on July 1, 2019. The parties signed the contract on Thursday.


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As reported previously, the instant transfer system will allow all transfers to be made within five seconds, 24 hours a day, seven days a week. The original plans called for GIRO to select and contract a supplier for the core infrastructure by the end of last year.
 

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