Finextra

AUGUST 20, 2024

Money movement company TerraPay has formed a 'Wallet Interoperability Council' with five leading payment operators to facilitate interconnection in cross-border transactions.

Cross-Border 83

Cross-Border Cross-Border Payments Interoperability Facilitators 83

PYMNTS

AUGUST 1, 2019

In the latest Smarter Payments Tracker , PYMNTS takes a deep dive into the challenge of interoperability in achieving better cross-border payments services and experiences. In the public sector, corporates and government entities are also collaborating in pursuit of interoperability. Across the pond, meanwhile, the U.S.’s

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

Faster Payments Council

JUNE 3, 2020

Faster Payments Council (FPC), a membership organization devoted to advancing faster payments in the United States, today released a new Faster Payments Interoperability white paper developed by the FPC Network Committee. Our Network Committee includes experts from U.S.

Interoperability 68

Interoperability Faster Payments Real Time Gross Settlement (RTGS) FPC 68

The Fintech Times

FEBRUARY 20, 2024

By breaking down silos, fostering interoperability, and enabling rapid development and deployment of new services, API-based microservices architecture empowers banks to deliver seamless, integrated experiences across channels and touchpoints. This approach offers banks the flexibility and scalability they need to thrive.

Facilitators 59

Facilitators API Interoperability Innovation 59

Finextra

FEBRUARY 13, 2024

As payment markets evolve, further progress hinges on open access facilitated by infrastructure modernisation. We explore the significance of interoperability and the prioritisation of standardisation to enhance cross-border transactions.

ISO 20022 108

ISO 20022 Cross-Border Fraud Prevention ISOs 108

Fintech News

MARCH 25, 2024

Specifically, in digital trade, the experiments proved the capability for interoperability among diverse digital networks, facilitating atomic trade payments. Tom Zschach “Swift is a community – a convener of and for our industry – and I’m delighted that we’ve been able to facilitate these critical innovation experiments.

CBDC 97

CBDC SWIFT Interoperability Settlement 97

Fintech News

JULY 9, 2024

Since its inception in 2016, Fave has facilitated over US$1 billion in transactions across Southeast Asia and India, helping consumers save over US$500 million through its loyalty programs. This approval allows Fave to offer account issuance, merchant acquisition, and domestic money transfer services.

Interoperability 80

Interoperability Payments Payments Institute Facilitators 80

Fintech Review

AUGUST 27, 2024

However, one of the significant challenges it faces is interoperability between different blockchain networks. Cross-chain interoperability aims to address this issue, enabling seamless communication and transactions across various blockchain platforms. Interoperability is vital for several reasons.

Interoperability 105

Interoperability Blockchain Facilitators Innovation 105

Fintech Finance

MARCH 26, 2024

Interoperability is critical to Swift’s strategy for instant and frictionless transactions. In securities, the lack of interoperability between tokenisation platforms is a barrier to the growth of tokenisation. More than 750 transactions were carried out over the course of the experiments. The full results report is available here.

Cross-Border 52

Cross-Border Use Case SWIFT CBDC 52

Fintech News

MARCH 26, 2024

This collaboration aims to facilitate secure cryptocurrency transactions by connecting Binance’s extensive user base of over 183 million with Sumsub’s network of Virtual Asset Service Providers (VASPs), financial institutions, and fintech companies.

Travel Rule 106

Travel Rule Rules Compliance Transactions 106

Fintech News

SEPTEMBER 17, 2024

The RBI is also planning to introduce interoperability for Internet banking transactions, with an expected rollout in the current year. The move aims to facilitate quicker settlement of funds for merchants and address delays in payment receipts.

Digital Payments 85

Digital Payments Credit Cards Payments Online and Mobile Banking 85

Fintech News

MAY 21, 2024

MAS and PBC aim to align the Singapore Asia Taxonomy (SAT) with the International Platform on Sustainable Finance’s Common Ground Taxonomy (CGT) by year-end, facilitating cross-border issuance of CGT-aligned green financing bonds and loans. The latest meeting highlighted progress in several key areas.

Central Bank 89

Central Bank Finance Metaverse Cross-Border 89

The Fintech Times

JULY 15, 2024

Facilitating connectivity to SIC Instant Payments, and any critical payments infrastructure of this kind, reflects our commitment to supporting banks on their broader payment modernisation journey – helping them to work in a more agile way and deliver value-added services to customers.” .

Instant Payments 72

Instant Payments ISO 20022 Fraud Prevention Message Standards 72

Fintech News

JANUARY 17, 2024

This agreement focuses on three main objectives; enabling UPI payments for Indian travelers abroad, aiding in the creation of UPI-based digital payment systems in other countries, and facilitating international remittances through UPI infrastructure.

Interoperability 85

Interoperability Cross-Border International Payments Digital Payments 85

The Paypers

DECEMBER 4, 2023

Cashfree Payments has launched BBPS-Biller Solution which facilitates and simplifies interoperable bill payment collection for Indian businesses.

Interoperability 36

Interoperability Facilitators Payments 36

Fintech News

MAY 29, 2024

This growth is attributed to the increasing interoperability of regional payment systems and the success of the Singapore Quick Response Code (SGQR) , the world’s first unified payment QR code. In contrast, the use of credit cards in online transactions in Singapore is expected to decrease from 42% in 2023 to 32% in 2027.

Credit Cards 105

Credit Cards APACS Payments Interoperability 105

Fintech Finance

FEBRUARY 6, 2024

Our partnership with ACI aligns with our mission to facilitate the development of secure and trusted new payment methods and technologies in Nepal,” said Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL. Currently, domestic card transactions are routed through international payment gateways. .

Interoperability 64

Interoperability Real Time Payments Non-Bank Financial Inclusion 64

The Fintech Times

DECEMBER 15, 2023

Today our selection of leaders discuss the evolving payment landscape in 2024, touching on trends like convergence of personal and corporate payments, real-time cross-border payments, interoperability’s influence, and the significance of orchestration in streamlining payments in the travel sector.

Cross-Border 59

Cross-Border Cross-Border Payments Interoperability Payments 59

Fintech News

JULY 14, 2024

Morgan, and Standard Chartered to facilitate payments for their customers. The platform’s 24×7 blockchain network can interoperate with real-time local currency payment and RTGS systems globally, facilitating both direct and indirect settlement flows with market players. Morgan, Standard Chartered, and Temasek.

Cross-Border 96

Cross-Border Correspondent Bank Multi-Currency Settlement 96

Fintech Finance

MAY 3, 2024

This includes improving accessibility, affordability, connectivity with both domestic and international payment networks, and interoperability. Once live, the platform will facilitate digital transactions in Namibia, driving financial inclusion and reducing cash dependency by catering to underserved populations.

Underserved 52

Underserved Interoperability Instant Payments International Payments 52

Fintech Finance

AUGUST 22, 2024

Collaborating with CBA allows BNY to enable yet another market in our ambition to facilitate instant, frictionless payments from account-to-account anywhere in the world,” said Carl Slabicki, Executive Platform Owner, Treasury Services at BNY.

Cross-Border Payments 98

Cross-Border Payments Near Real-Time Cross-Border Settlement 98

Fintech Finance

JULY 3, 2024

The initiative will facilitate seamless transactions for Indian tourists across Network International’s vast merchant network in the UAE. By enabling UPI acceptance through its POS terminals, Network will provide a QR-based safe and secure method for facilitating cross-border payments. billion transactions in May 2024 alone.

Point-of-Sale (POS) 98

Point-of-Sale (POS) Cross-Border Payments Cross-Border International Payments 98

The Fintech Times

MAY 29, 2024

The Interledger Foundation , an organisation building and advocating for an open, interoperable payment network, is introducing a new initiative to fund fintechs that leverage its Interledger Protocol (ILP) to bring payment capabilities to emerging markets and underserved populations.

Instant Payments 69

Instant Payments Cross-Border Payments Financial Inclusion Underserved 69

Fintech News

MAY 27, 2024

MVP in production: interoperability of CBDC, banks, and card networks Astana, the capital of Kazakhstan. The regulator decided to issue and redeem Digital Tenge centrally and allow reputable market participants to facilitate CBDC workflows related to accounts, cards, and payments.

CBDC 107

CBDC Transactions Payment APIs and Integration Cross-Border 107

The Fintech Times

JANUARY 24, 2024

R3 Digital Markets champions interoperability and ensures businesses are fully equipped to manage both digital and traditional assets effectively.

Distributed Ledger Technology (DLT) 64

Distributed Ledger Technology (DLT) Product Digital Currency Interoperability 64

Fintech News

DECEMBER 11, 2023

G+D’s non-DLT-based CBDC system, Filia, was used in the direct model, demonstrating its interoperability and can be integrated into both traditional account-based environments and DLT solutions. Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system.

CBDC 99

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 99

The Fintech Times

SEPTEMBER 12, 2024

That’s one of the reasons as a central bank, we always look at how can we help facilitate and enable central bank money in that setup.” ” Heinzle also explained the benefits of interoperability: “Interoperability is going to make our world a better place.

Central Bank 64

Central Bank Financial Inclusion Blockchain Interoperability 64

Fintech News

MAY 16, 2024

Harmonizing regulatory frameworks across the region would help solve this issue and facilitate consistent implementation of open banking practices. In parallel, major banks like Siam Commercial Bank, Kasikornbank, and Krungsri Bank have launched open APIs for third-party developers, facilitating innovation in banking services.

Payment APIs and Integration 118

Payment APIs and Integration API Facilitators Interoperability 118

Clearly Payments

JANUARY 4, 2024

Ripple (XRP), designed with a focus on facilitating cross-border payments, has gained traction for its speed and efficiency. The pegging mechanism is typically facilitated through smart contracts and algorithmic mechanisms, allowing for real-time adjustments to the circulating supply of stablecoins based on market demand.

Cryptocurrency 105

Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 105

The Fintech Times

MAY 23, 2024

This means adopting standardised APIs and protocols, allowing for seamless integration and interoperability between different institutions. Central to this strategy is the promotion of data interoperability and portability, allowing consumers to control and share their data securely across different platforms and services.

Interoperability 94

Interoperability Economy Finance Small Business 94

Fintech News

AUGUST 21, 2024

Instant Payment initiatives are flourishing to facilitate real-time transactions for both businesses and consumers all around Asia and cross-border. Trends impacting the Asian payments ecosystem Asia is witnessing a significant transformation, mainly driven by the Instant Payment trend.

Payments Trends 100

Payments Trends Digital Payments Payments Instant Payments 100

Fintech Finance

FEBRUARY 5, 2024

Through this collaboration, Mastercard and Last Mile Solutions are committed to fostering the uptake of electric vehicles throughout Europe by eliminating existing barriers and simplifying the charging process for drivers with interoperable and universal payment solutions. Our solution will allow operators to focus on their core business.”

Visa 59

Visa Payment Gateways Gateways Interoperability 59

Faster Payments Council

JUNE 28, 2021

While it represents a significant portion of payment value, cross-border transactions can be complex, involving a number of different players, can take some time to reach the intended recipient, and lack interoperability. At the FPC, we are tackling this issue head on.

Cross-Border 68

Cross-Border Faster Payments Cross-Border Payments FPC 68

PYMNTS

JUNE 24, 2020

The partnership is “the next step toward the development of sustainable and scalable interoperable payment options,” said Ambar Sur , founder and CEO of the global payments infrastructure company. “Interoperability is key to a digitally connected payments ecosystem.”.

Interoperability 97

Interoperability Payments Financial Inclusion FinTech 97

Fintech Finance

JUNE 5, 2024

This innovative system facilitates instant payments between individuals and businesses, thereby reducing reliance on cash-based transactions and expanding the use of digital payments to Peru’s large unbanked population.

Real Time Payments 52

Real Time Payments Financial Inclusion Agreements International Payments 52

PYMNTS

NOVEMBER 10, 2020

Nacha has announced that Phixius, which facilitates the trusted exchange of payment information, has officially gone live, according to a press release. The release says Phixius has also officially completed its first information exchange transaction between two parties.

Phixius 72

Phixius NACHA Security ACH 72

Finovate

FEBRUARY 12, 2024

Finastra and Tesselate announced a partnership to facilitate faster and easier trade finance digitization. A partnership between Finastra and digital transformation consultancy Tesselate will facilitate faster and easier trade finance digitization courtesy of a new end-to-end pre-packaged service.

Finance 59

Finance Embedded Finance Treasury Facilitators 59