Dovetail, a provider of payment services hubs, has joined the International Payments Framework Association (IPFA), which provides rules, standards, operating procedures and guidelines to improve cross-border payments. Recently the IPFA has enabled the Federal Reserve Banks, US (FED) and Equens in Europe to successfully exchange both US dollar and euro. Going forward, IPFA members have also commenced planning for the inclusion into the framework of transactions between members in Brazil, Canada, Mexico and South Africa during 2010/2011.
Martin Coen, chief executive officer (CEO) of Dovetail, said: “Having implemented over 19 connections to national and international high value and national and regional low value clearing systems we understand the complexity and subtleties of the payments world. We fully support the IPFA in their objective to increase the interconnectedness of clearing systems around the world and look forward to sharing our experience and learning from IPFA member banks.”
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