PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”

ISO 20022 76

ISO 20022 ISOs SWIFT Cross-Border 76

PYMNTS

SEPTEMBER 5, 2019

The new pre-authorization standard is now available for developers of APIs to adopt and use. In July, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions.

SWIFT 72

SWIFT ISO 20022 Authorization API 72

PYMNTS

AUGUST 16, 2019

Many are choosing to implement ISO 20022 as a common messaging standard to achieve greater interoperability between payment systems, with the system seeing more than 80 implementations in over 40 markets, including with TCH’s RTP system in the U.S. That resistance doesn’t reflect the needs of smaller, regional banks.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has taken recent steps to promote interoperability of its payments network, recently announcing that it would allow blockchain platforms to loop into SWIFT’s global payments innovations (GPI) service to facilitate real-time transactions.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

SEPTEMBER 11, 2019

In July, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. Last week, SWIFT launched a new API standard for the pre-authorization of funds.

Cross-Border Payments 76

Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

Evolve Payment

SEPTEMBER 29, 2023

The Rise of Cross-Border Payments In a world where instant, cost-effective payments have become the norm, dissatisfaction with the traditional correspondent banking model, known for its complexity and expenses, has fueled the rise of non-bank providers.

Industry Trends 52

Industry Trends Contactless Payments ISO 20022 Cross-Border 52

PYMNTS

AUGUST 21, 2020

Indeed, making payments across borders remains one of the biggest pain points for small- and medium-sized businesses, as well as one of the biggest opportunities for FinTechs and other FinServ providers, thanks to the continued lack of transparency and speed in traditional global payment methods that rely on the correspondent banking system.

Multi-Currency 69

Multi-Currency Cross-Border Payments Cross-Border Finance 69