EBizCharge

NOVEMBER 12, 2024

A merchant account is a business bank account that allows companies to accept payments, such as debit and credit card transactions, electronic funds transfers (EFTs), and Automated Clearing House (ACH) payments. The bank then verifies if there are sufficient funds and confirms the card’s validity.

Accounts 52

Accounts Online and Mobile Banking MSPS Debit Card 52

PYMNTS

FEBRUARY 1, 2019

In 2016, the central bank of Bangladesh asked the NY Fed — as well as the central bank and money laundering authorities in the Philippines — to help recover money that was stolen when cybercriminals hacked into Bangladesh’s systems and sent fraudulent orders via the SWIFT global payments network to the NY Fed.

Federal Reserve 44

Federal Reserve Fed Money Laundering Central Bank 44

The Fintech Times

JUNE 13, 2024

In Saudi Arabia, the implementation of the Sarie system by the Saudi Central Bank in collaboration with Mastercard and IBM in 2021, is a trailblazing leap toward modernising the payment infrastructure. Sarie facilitates instant fund transfers within the Kingdom, enhancing both consumer convenience and business liquidity.

Instant Payments 59

Instant Payments Payment APIs and Integration ISO 20022 Payment Gateways 59

PYMNTS

DECEMBER 18, 2019

While credit unions are eager to add RTP to their list of payment capabilities, CULedger recently revealed its proof of concept, CUPay, a technology that wields blockchain and existing payment rails to facilitate payments between credit unions.

B2B 52

B2B Credit Union Electronic Funds Transfer (EFT) RTP 52

PYMNTS

OCTOBER 22, 2019

Transfers are passed between FIs until they reach intended recipients, and each bank adds extra steps and fees along the way. Global messaging firm SWIFT is easing some cross-border payment pains by enabling the approximately 11,000 FIs that use its network to send standardized payments information to each other, although much work is needed.

Cross-Border Payments 41

Cross-Border Payments Cross-Border P2P B2B 41

Stax

JUNE 27, 2024

ODFI submits ACH file – The originator’s bank or payment processor, also known as the originating depository financial institution (ODFI) submits the ACH entry containing the payment details. The funds are transferred directly between accounts and the account numbers are kept confidential.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

M2P Fintech

MARCH 28, 2024

Automated Clearing House (ACH) The ACH is a central system for electronic fund transfers, facilitating swift, secure, and cost-effective movement of funds between financial institutions. This streamlines financial transactions, offering efficiency in processing large-scale fund transfers.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

Fintech Labs Insights

OCTOBER 16, 2016

With increased competition in the P2P payments industry ( PayPal / Venmo ( FDNY 16 ), Square Cash, Zello), banks are feeling pressure to compete by offering faster delivery of funds. The partnership enables banks to offer funds-transfers a day sooner, or even same-day. Sibos 2016 Celebrates the Blockchain.

EMV 17

EMV P2P Same Day ACH FinTech 17