> Subject: > Banks' e-transfer system delayed: politics as usual? > Date: > Wed, 10 Jan 2001 10:16:59 -0500 > From: > "R. A. Hettinga" <[EMAIL PROTECTED]> > To: > Digital Bearer Settlement List <[EMAIL PROTECTED]>, [EMAIL PROTECTED] > > > --- begin forwarded text > > > From: Somebody > To: "R. A. Hettinga" <[EMAIL PROTECTED]> > Cc: > Subject: Banks' e-transfer system delayed: politics as usual? > Date: Wed, 10 Jan 2001 13:52:14 -0000 > > >http://globalarchive.ft.com/globalarchive/articles.html?id=010110002797&query=Banks%27+e-transfer+system+delayed > > NATIONAL NEWS: Banks' e-transfer system delayed > Financial Times; Jan 10, 2001 > By JAMES MACKINTOSH > > Banks have put on hold an internet system to allow cheap same-day transfers > between accounts in the wake of a government retreat on tighter regulation > for payments systems. > > The system was supposed to be running by March, allowing quick payment of > bills and transfers to other people's accounts. > > But the Association for Payment Clearing Services, which groups together the > largest banks, has quietly delayed development. It said no system would be > built this year and that no start date had been set. > > Last year, the association said the system would "revolutionise" payments > because of the speed. At present consumers wanting to make instant transfers > have to pay Pounds 35 to use the high-value Chaps system. > > The delay follows the abandoning of association plans to build an > industry-wide, online bill-payment system after Barclays and Royal Bank of > Scotland pulled out. > > However, other banks are believed to be working on a cut-down version of the > scheme, which will allow utility bills to be sent to customers > electronically, cutting out postage and printing costs. > > The association an-nounced the development of the same-day payments system > last year, three days after the Cruickshank report strongly criticised the > banks' monopoly on payments. > > Copyright: The Financial Times Limited > > --- end forwarded text > > > -- > ----------------- > R. A. Hettinga <mailto: [EMAIL PROTECTED]> > The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> > 44 Farquhar Street, Boston, MA 02131 USA > "... however it may deserve respect for its usefulness and antiquity, > [predicting the end of the world] has not been found agreeable to > experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire' > -- http://www.bearerinstruments.com A Directory of Web sites and Internet presences accepting non-fiat monies. http://www.bearerinstruments.com/assets/BIMDsPGPkey.txt 650C 51DA 734F 697F 5706 3D6A 7712 BCC9 D1AE 00BA --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED]
