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by Graham Buck
A working group of payments experts will aim to develop a common set of standards that can be introduced globally.
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Lockbox Bill Collection
Background
Lockboxes were first developed in North America to accelerate cheque collection. Banks set up lockboxes in each of the major postal regions in the US to minimise the 'in-the-post' float time. The cheques were then read by the bank and the monies cleared and settled as fast as possible. Lockbox… Read more about Lockbox Bill Collection
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