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

FEBRUARY 7, 2017

You can test all you want, but for payments innovators, the true test only comes when a solution is released out into the real world. s Faster Payments initiative, there have already been some changes made to the service that looks to support real-time transacting. For the U.K.’s But last June, the U.K. is all about flexibility.

Faster Payments 46

Faster Payments Technology Real Time Payments ISO 20022 46

PYMNTS

NOVEMBER 12, 2018

continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. payment ecosystem, including APIs for the financial services space. As the U.K.

Payment Message 77

Payment Message ISO 20022 Message Standards ISOs 77

PYMNTS

MARCH 12, 2018

The future of payments. It’s a case that, Laurence Cooke, CEO of nanopay, made on Friday’s Topic TBD, telling PYMNTS’ Karen Webster that cryptos simply won’t cut it when it comes to speed and scale, two things that are the hallmarks of any viable payments system, digital or otherwise. Otherwise it is an illegal payment.

Faster Payments 44

Faster Payments Central Bank Cross-Border Payments 44

PYMNTS

JUNE 7, 2018

’s payments messaging operations through the planned adoption of the ISO 20022 messaging standard, the bank announced Wednesday (June 6). The NPSO, which operates Faster Payments and BACS, is working with the central bank to develop a “Common U.K. The Bank of England is streamlining the U.K.’s

ISO 20022 46

ISO 20022 ISOs Real Time Gross Settlement (RTGS) Message Standards 46

Fintech Finance

FEBRUARY 27, 2024

Backbase , the global leader in Engagement Banking, today announced that Alacriti , an innovator in cloud-based payments and money movement services, will integrate its payments hub solution into the Backbase Engagement Banking Platform. The evolving U.S. The evolving U.S.

Instant Payments 52

Instant Payments Payment Solutions ISO 20022 FedNow 52

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

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. Privately-owned companies are also looking to solve the cross-border payments problem.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

JULY 31, 2018

financial players are still exploring the best practices to offer faster payments to corporate clients. A recent survey of 20 of the nation’s top-60 banks found that there’s a lack of consensus among banks when it comes to managing and charging businesses for real-time payments. Around The Faster Payments World.

Real Time Payments 59

Real Time Payments Payment Networks Faster Payments Online and Mobile Banking 59

PYMNTS

NOVEMBER 10, 2020

Real-time payments aren’t just an opportunity for consumers to send and receive money more quickly. Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world. A Payments Culture Shift.

Real Time Payments 117

Real Time Payments B2B Value Added Service ISO 20022 117

PYMNTS

MAY 1, 2019

Payments processing and financial message integration company Volante Technologies is expanding its Payments-as-a-Service offering for financial institutions in the U.S. and cross-border payments. and cross-border payments. financial institutions.

ISO 20022 66

ISO 20022 Same Day ACH Cross-Border Payments Payment APIs and Integration 66

PYMNTS

JANUARY 25, 2019

payments landscape is shifting into higher gear, pressuring corporations to accelerate their processes. As they work to achieve this, more companies are ditching paper-based methods and embracing digital solutions that streamline payments and reconciliations. However, the current payments environment in the U.S. as an example.

Real Time Payments 67

Real Time Payments Federal Reserve RTP TCH 67

PYMNTS

NOVEMBER 18, 2020

The pandemic has exposed glaring points of friction in any number of verticals – including banking, where it’s apparent that legacy systems and processes were not designed to handle real-time anything, and certainly not payments. economy is proving to be a tailwind for faster payments and processes. That said, the U.S.

Real Time Payments 98

Real Time Payments ISO 20022 Reconciliation Payments 98

PYMNTS

JULY 3, 2018

continues to consolidate its payments industry, with its New Payment System Operator (NPSO) announcing the latest step in the initiative. Payments Administration and has taken control of the nation’s check and credit clearing operations. “This is our opportunity to create the future of retail payments in the U.K.,

Continuity 40

Continuity ISO 20022 Message Standards Faster Payments 40

PYMNTS

DECEMBER 23, 2016

VocaLink isn’t facing enough competition in its role of providing the underlying infrastructure of key payment systems like Bacs, according to the U.K. Payment Systems Regulator (PSR). Both Bacs and the Faster Payments Service are critical in enhancing B2B payments across the U.K.

ISO 20022 49

ISO 20022 Message Standards Faster Payments ISOs 49

PYMNTS

AUGUST 13, 2019

The faster payments landscape is changing rapidly, most recently with the U.S. Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow. Around the Faster Payments World. Serving Quick Payments to the QSR Industry.

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

AUGUST 28, 2019

Paper checks are often pointed to as an example of how difficult it can be for corporates to change their payment behaviors. With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper. A Different Kind Of Challenge.

ISO 20022 52

ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

AUGUST 1, 2019

In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

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. Louis, as its new payments strategy director.

Federal Reserve 64

Federal Reserve Innovation Secure Payments Task Force Faster Payments 64

PYMNTS

SEPTEMBER 23, 2019

The Payments Market Practice Group asked the Federal Reserve to reassess its approach to the project, which involves a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service. If payments are not fully enabled for ISO 20022 by the time SWIFT rolls the system out, messages might get cut off.

ISO 20022 76

ISO 20022 Federal Reserve ISOs FedWire 76

PYMNTS

DECEMBER 12, 2019

continues to take significant steps toward a faster payments ecosystem , the market undoubtedly lags behind others across the world in the path toward real-time payments ubiquity. real-time payments journey in a recent interview with PYMNTS. regulatory climate’s negative impact on real-time payments adoption, she said.

RTP 72

RTP Real Time Payments Faster Payments Cross-Border 72

PYMNTS

JULY 9, 2020

There’s no single path to payments infrastructure innovation. This week’s examination of the latest initiatives to target B2B payments friction from the ground up finds a mix of strategies. For some, like Currencycloud and Steamchain, the path involves bypassing legacy payment rails and embracing blockchain.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

NOVEMBER 2, 2020

There’s a time and a place for all rails, and in an age where faster payment schemes are multiplying across the globe, it may seem that the payments ecosystem is simply on a never-ending treadmill of adding rails and never taking them away. Interoperability will get a boost with messaging standards such as ISO 20022.

B2B 119

B2B Cross-Border Digital Currency Multi-Currency 119

PYMNTS

MARCH 17, 2020

To that end, Vincent Caldeira, chief technologist for FSI in APAC for Red Hat told PYMNTS, FIs — especially incumbent FIs — are facing rapid changes in payments that demand they modernize payments processing, embedding new functionality along the way. The Need For Standardization In Cross-Border Payment Processing.

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Cross-Border Innovation Payment APIs and Integration Cross-Border Payments 91

PYMNTS

MARCH 14, 2019

For corporate treasurers, Manish Kohli, global head of payments and receivables at Citi , told PYMNTS’ Karen Webster, three concerns tend to top the list: geopolitical uncertainty, cyber threats and disruption resulting from the emergence of new business models in an interconnected global market. More Progress, New Challenges.

Global Payments 77

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

Payments Source

SEPTEMBER 23, 2019

The Federal Reserve Banks put the brakes on their planned migration of the ISO 20022 messaging standard, delaying a three-phased migration established in 2017 that targeted November 2020 as the start of that process.

ISO 20022 68

ISO 20022 ISOs Federal Reserve Fed 68

PYMNTS

JANUARY 17, 2017

Alongside the expansion of payments technologies, payment testing service providers have had to grow and flex to meet market needs. Last week, Paragon announced a partnership with payment infrastructure developer RS Software to meet those changing demands. The old type of annual processing and testing isn’t effective anymore.”.

ISO 8583 49

ISO 8583 ISO 20022 ISOs Faster Payments 49

PYMNTS

SEPTEMBER 7, 2017

Payment System paper, in which the Fed outlined initiatives for the payments industry and its stakeholders to promote progress. For the Fed, progress means improving the speed, security and efficiency of the payments system, and to focus on international payments capabilities and promote collaboration within the field.

Fed 49

Fed Federal Reserve Cross-Border Payments Cross-Border 49

PYMNTS

SEPTEMBER 23, 2019

Corporates have growing expectations for faster, more efficient and more secure B2B payments — whether their money is moving from one business unit to another or one country to another. Payments Speed and Security. As financial institutions gather for this year’s Sibos conference kicking off in London today (Sept.

B2B 49

B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

JUNE 13, 2018

PayStand , a B2B payments company powered by blockchain, is launching in Canada. A press release on Tuesday (June 12) said PayStand is introducing its Payments-as-a-Service (PaaS) solution to the Canadian market. ” According to the company, B2B EFT payments make up more than one-third of Canada’s domestic payments volume.

Electronic Funds Transfer (EFT) 43

Electronic Funds Transfer (EFT) B2B Blockchain ISO 20022 43

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. Innovation On Old Initiatives.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

SEPTEMBER 13, 2018

As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way. This embrace comes as corporates are just starting to work with faster payments.

Cross-Border Payments 40

Cross-Border Payments Cross-Border Risk Same Day ACH 40

PYMNTS

NOVEMBER 20, 2019

Customer-facing markets such as financial services and insurance have greatly benefited from real-time payments, and healthcare could be next. Real-time payments can address these pain points by granting claimants quicker access to funds and providing more precise data regarding insurance payments’ purposes.

Real Time Payments 44

Real Time Payments Electronic Funds Transfer (EFT) ISO 20022 Payer 44

PYMNTS

DECEMBER 4, 2018

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. The service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

Instant Payments 50

Instant Payments ISO 20022 SWIFT ISOs 50

PYMNTS

SEPTEMBER 10, 2019

The B2B payments discussion often centers around innovators’ efforts to kill the check. Unfortunately, simply introducing an electronic alternative to paper checks is not enough to kill this sticky and popular payment method. B2B Payments’ Innovation Agenda.

B2B 59

B2B Cross-Border Payments Payer 59

PYMNTS

AUGUST 16, 2019

The cross-border payment space is ready — and perhaps overdue — for disruption. Change is being fueled by shifting regulations and emerging digital technologies that enable faster payment capabilities. A Globalized Market Needs More Efficient Payments. A More Transparent Process. A More Transparent Process.

Cross-Border Payments 54

Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

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