The Fintech Times

MARCH 25, 2025

The Somalian financial ecosystem has taken its next step in the digital world as the Central Bank of Somalia’s (CBS) payments initiative, the Somalia Payment Switch (SPS), has successfully launched the country’s first instant payment system.

Instant Payments 59

Instant Payments Payments Settlement Central Bank 59

Stax

NOVEMBER 21, 2024

We have broken down the process into three key steps below: Payment initiation This first step is triggered when your customer pays for your goods or services using a credit card. When this happens, a chargeback process will be initiated.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

Open Banking

JULY 23, 2024

Notes to editors: The recent growth in users has bucked trends from previous years: There has been higher growth in Payment Initiation Service (PIS) users over the past 12 months (61% year on year) However, growth of Account Information Service (AIS) users has also steadily accelerated in recent months (currently 27% year-on-year).

Small Business 80

Small Business Message Standards Regulations Economy 80

PYMNTS

MARCH 18, 2020

Though that data can be digitized via lockbox services, there is no obvious way to link that information to an outstanding invoice, especially if there is any discrepancy or dispute in the payment amount. Initiating Change, In Both The Short And Long Term. “The work from there is, what do you do with the exceptions?”

Lockbox 80

Lockbox Reconciliation Checks Automation 80

Stax

AUGUST 29, 2024

For example, the charges for a credit card payment online will be different from the charges for an in-person credit card payment. Also, the processing rates for a debit card payment will be different from the processing rates for an ACH transfer. Robust tools for dispute and chargeback management are also desirable.

Payment Service Provider (PSP) 88

Payment Service Provider (PSP) Service Provider Payment Gateways Online and Mobile Banking 88

Open Banking

JANUARY 13, 2023

Third Party Providers (TPPs) are organisations or natural persons that use APIs developed to Standards to access customer’s accounts, in order to provide account information services and/or to initiate payments.

API 52

API Regulations Message Standards Small Business 52

PYMNTS

NOVEMBER 5, 2019

More than one-fifth, however, suggested that interoperability be achieved as soon as the Federal Reserve release its FedNow real-time payments service. is falling behind in its faster payments journey, with nearly 60 percent noting that the country has not made sufficient progress.

Faster Payments 40

Faster Payments Interoperability FedNow ACH 40