Eurozone banks plan to join real-time payment systems by the end of 2020 due to pressure from Facebook's Libra

According to Reuters, Eurozone plans to join the real-time payment system by the end of 2020, due to concerns about Facebook's upcoming cryptocurrency Libra. According to reports, since 2017, this 19-country region already has a real-time payment system, but only about half of the banks in the region have joined the system. After Facebook released the Libra white paper, the major banks in the region have already felt the fierce competition. Etienne Goosse, Director General of the European Payments Commission (EPC), said that time is tight. Regardless of the success of Facebook's Libra project, banks need to accelerate their actions because large technology companies are pressing hard. Goosse said: "They have a global solution and offer a lot of things that consumers seem to feel great under a global brand. So we have no time."