CMSPI STATE OF THE INDUSTRY REPORT
Timeline
2.4 PAY BY BANK
1851
Money transfers utilizing telegraph
Intercontinental transfers between Europe and North America
1858
Telex systems introduced in the UK and European countries
1930s
Society for Worldwide Interbank Financial Telecommunication Automated Teller Machines (ATMs) facilitated electronic fund transfers • Telex system introduced in US • Automated Clearing House founding
1960s
1973
1980s
1990s
Internet banking began
2001
Korean Electronic Banking System launched
2003
Iceland and Chinese Taipai launched
Malaysia’s Real-Time Payments Platform and South Africa’s Real-Time Clearing (RTC) launched United Kingdom’s Faster Payments Service (FPS) launched
2006
2008
2008/ 2009
The UK’s SEPA schemes launched
2010s
The U.S.’s same-day ACH launched
Singapore’s Fast and Secure Transfers (FAST) launched
2014
2016
India’s UPI launched
the U.S.’s Real-Time Payments (RTP) launched
2017
2018
SEPA Instant Credit Transfer launched
2020
• Brazil’s Pix launched • G20 Roadmap for Enhancing Cross- border Payments Report launched
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