PYMNTS

OCTOBER 10, 2016

23, the industry welcomed the rollout of ubiquitous faster payments to every consumer and business in the U.S. NACHA’s launch of Same Day ACH ushered in three settlement windows, enabling ACH payments to be received same day. via all banks and credit unions. The Road To Process Improvement.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States.

Instant Payments 75

Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

AUGUST 31, 2017

With the financial services space shifting from a competitive nature to a collaborative spirit between traditional banks and emerging FinTechs, one major stakeholder in the payments industry has quietly been an integral part of this co-op: the Federal Reserve. payments system via faster payments.

Federal Reserve 64

Federal Reserve Innovation Secure Payments Task Force Faster Payments 64

PYMNTS

NOVEMBER 18, 2020

Fifth Third’s Chayt said the need for speed might have gotten real-time payments initiatives off the ground, but that’s just a starting point. economy is proving to be a tailwind for faster payments and processes. The “now,” according to the panelists, demands interoperability between rails, which is an eventuality.

Real Time Payments 98

Real Time Payments ISO 20022 Reconciliation Payments 98

PYMNTS

AUGUST 7, 2019

Faster payments are quickening the pace of billion dollar acquisitions in the payments space. billion USD) to buy Nets, a Denmark based payments platform. Mastercard said Tuesday (Aug. 7) that it would spend 2.9 billion Euros, ($3.2 The Use Cases.

Visa 77

Visa Acquirers Real Time Payments ISO 20022 77

PYMNTS

SEPTEMBER 7, 2017

“Through the strategies and tactics outlined in this next steps plan, the Federal Reserve will support continued industry momentum toward safe, ubiquitous, faster payments for our country.”. According to the Fed, payments must not only be faster, they must also be safe and ubiquitous.

Fed 49

Fed Federal Reserve Cross-Border Payments Cross-Border 49

PYMNTS

MARCH 14, 2019

Kohli pointed to SWIFT’s gpi initiative as a significant driver of innovation and progress in the cross-border transaction market, and an example of the impact of payments innovation to not only make global payments more efficient, but to promote the adoption of faster payments functionality.

Global Payments 77

Global Payments Cross-Border Payments Cross-Border ISO 20022 77

PYMNTS

APRIL 29, 2019

Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. A London-based manufacturer can’t rely on the U.K.’s Current Efforts . and Australia’s NPP.

ISO 20022 77

ISO 20022 Interoperability Instant Payments Cross-Border 77

PYMNTS

AUGUST 1, 2018

s Faster Payments Scheme launched in 2008. It was the country’s first new payment system in two decades, and just one-third of U.K. PYMNTS recently caught up with Marion King, director of payments for NatWest , about what Faster Payments has meant for the bank and how its use may develop in the future.

Faster Payments 40

Faster Payments Real Time Payments Payments Online and Mobile Banking 40

PYMNTS

OCTOBER 2, 2019

To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. That’s a staggering leap from the 14 live faster payment schemes that existed worldwide in 2014, when FIS first released Flavors of Fast.

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

PYMNTS

NOVEMBER 2, 2020

Tech-driven Interoperability and collaboration will finally bring trillions of dollars into the digital age, Kevin Phalen , head of global business solutions at Visa , told Karen Webster in a recent interview. Interoperability will get a boost with messaging standards such as ISO 20022.

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B2B Cross-Border Digital Currency Multi-Currency 119

PYMNTS

AUGUST 16, 2019

Change is being fueled by shifting regulations and emerging digital technologies that enable faster payment capabilities. Although there are more efficient cross-border transactions being enabled, several roadblocks are still in the way, including payment tracking and issues with interoperability between market systems.

Cross-Border Payments 54

Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

PYMNTS

MARCH 16, 2016

When analysts from SWIFT and its ISO 20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. in its faster payments initiatives.

ISO 20022 40

ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

AUGUST 5, 2019

Financial players’ attempts to address such issues include offering pre-validation services to confirm payment details prior to initiating payments, creating regional instant payment schemes or making domestic real-time payment systems interoperable to quickly move funds.

Cross-Border 46

Cross-Border ISO 20022 Cross-Border Payments Payment APIs and Integration 46

PYMNTS

DECEMBER 4, 2018

Drilling down a bit from pan-European efforts in payments infrastructure to more granular ones, in the U.K., a Bank of England consultation about the embrace of messaging standards – specifically, ISO 20022 – has garnered support of a Common Credit Message (CCM) that looks for harmonization of messaging across interbank payment efforts.

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Instant Payments ISO 20022 SWIFT ISOs 50