Central Bank of Paraguay, RTGS, ACH, CSD
Central Bank of Paraguay (BCP – Banco Central del Paraguay) launched the Electronic Payment System.The Governor of the Central Bank of Paraguay, Mr. Carlos Fernández Valdovinos stated that the beginning of the operations of National Electronic Payment System of Paraguay (SIPAP) is a historical event for the financial system in particular and for the capital market in general. The payment system is a set of tools, standards and procedures through which transfers of funds between the various economic agents are made. It allows the transfer of funds (both physical and electronic) between its participants. In advanced economies, most of the operations of the financial systems is carried out via electronic money.
The National Payment System is a scheme that allows the Real Time Gross Settlement (RTGS), an Automated Clearing House (ACH) and Central Securities Depository (CSD) to be integrated with existing various subsystems of the Bank. These solutions aim to meet all the financial needs of business in a fully integrated manner.
Status: The system went into live operation in November 2013.