| Abstract: The development of communication
technologies and their application in the field of finance
required the development of new approaches of the
payment settlements. This was especially intensified with
the development of Internet technologies, the need for
globalization, as well as standardization and
consolidation of the markets in the European Union.
Unification of the EU market brought the need for
creating a software platform, which enables
internationally harmonized processing of payments. This
paper comparatively analyzes the two most important
electronic real time gross settlement payment systems
(RTGS), which are based on the same network service
provider SWIFT. By the decision of the European Central
Bank all electronic payments processed in Euros, in the
future, have to be realized through a system Target2 and
SEPA. The aim of the paper is to analyze the
implementation of different national RTGS systems in the
EU and their migration to single shared platform. |