Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure
The Central Bank of Aruba (CBA) will transition away from operating the nation’s clearing system as it sets its sights on becoming payments regulator, a new report published by the central bank has revealed.
In the report, the central bank outlines its ‘payments road map’ for the next three years, envisaging a new framework to be implemented by the end of 2020.
“The current Aruban payment infrastructure… is clearly fragmented, inefficient and lacks innovation,” the central bank says in its
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