Payments Source

JUNE 9, 2017

International payments and risk-based services provider INTL FCStone says its London-based global payments division will become a non-bank participant in Swift's global initiative to improve the cross-border transaction landscape.

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PYMNTS

MARCH 16, 2020

Cross-border payments via Swift’s ISO 20022 migration, originally set to roll out by November 2021, have now been set back a year and are expected to come by the end of 2022 instead, according to reports. ISO 20022 is set to make changes to the payment landscape as a whole, according to the company.

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PYMNTS

AUGUST 12, 2020

AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. SWIFT gpi’s technology is revolutionary for the payments industry and gives power back to the customer.”

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Cross-Border SWIFT Cross-Border Payments Payee 77

PYMNTS

JUNE 28, 2016

As of today, 73 new banks have signed on to Swift’s Global payments initiative. The goal of the project is to expand the payment services and experience for customers by upping the speed, transparency and predictability of cross-border payments.

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Payment Initiation Global Payments Cross-Border Payments Cross-Border 40

PYMNTS

APRIL 9, 2018

SWIFT ’s global payments initiative (gpi) service has a new bank on board. Reports on Friday (April 6) in WebIndia123 said ICICI Bank is the first in India to join and roll out the global payments service. ICICI, along with Axis Bank, were the first banks in India to join SWIFT’s gpi.

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PYMNTS

SEPTEMBER 6, 2018

SWIFT, Too. One might be forgiven for thinking that the news surrounding secure messaging provider SWIFT has been limited to speculation and headlines concerning the possibility of a parallel, Europe-focused, cross-border payment scheme. Ma is contributing $10 million to a fund that will be geared toward African entrepreneurs.

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PYMNTS

OCTOBER 22, 2018

SWIFT announced Monday (October 22) the launch of Payment Controls, a new in-network solution to combat fraudulent payments and to help strengthen customers’ existing security. SWIFT said in the press release that Payment Controls is an important way to protect firms as the frequency and speed of payments increases.

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Payments Source

FEBRUARY 16, 2017

A dozen global transaction banks are now using the Society for Worldwide Interbank Financial Telecommunication's new global payments initiative service to improve cross-border payment delivery.

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Cross-Border Payments Cross-Border SWIFT Payment Initiation 60

PYMNTS

NOVEMBER 27, 2019

The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. Among corporates, there is an increasing demand that their global payment activity is able to keep up with the pace of doing business.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

The Paypers

FEBRUARY 26, 2021

US-based Western Union Business Solutions has announced the expansion of its global capabilities, bringing different payment services to business customers.

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Payment Initiation Global Payments SWIFT Payments 34

PYMNTS

OCTOBER 7, 2019

First Investment Bank ( Fibank ) is the first Bulgarian bank to offer the SWIFT Global Payment Initiative (gpi), according to a press release. SWIFT data shows that about 36 percent of gpi transfers reach their destination within 5 minutes. About 53 percent reach in an hour, and 96 percent reach the same day.

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PYMNTS

MAY 3, 2019

It seems that’s the journey for cross-border payments, which are in the midst of a digital disruption as innovators focus on addressing a range of friction points, from sluggish speeds to high costs. Only a few years ago, small businesses lagged in global payments technology uptake.

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Global Payments Cross-Border Payments Cross-Border Small Business 60

PYMNTS

NOVEMBER 2, 2016

Last September, Ripple publicly questioned the effectiveness of the Global Payments Innovation initiative of payments technology firm SWIFT. GPII, Ripple stated, is “an iteration of exactly what SWIFT provides today with a marginal increase in speed for availability of funds.” ”

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The Paypers

APRIL 11, 2016

(The Paypers) A total of 21 banks have signed on to pilot test SWIFT `s global payments initiative, a project aimed at modernizing cross-border payments by enabling same-day use of funds.

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Cross-Border Payments Cross-Border Payment Initiation SWIFT 28

The Paypers

JULY 31, 2017

(The Paypers) Three local Chinese commercial banks have announced they will join Swift ’s global payments innovation initiative (gpi).

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PYMNTS

MARCH 28, 2016

China has received some criticism and skepticism over its cross-border payments initiative, spearheaded as CIPS — the Cross-Border Inter-Bank Payments System. Analysts point out that the payments system operates just 11 hours a day and only out of Shanghai. and fees associated with payments using CIPS are unclear.

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SWIFT Cross-Border Cross-Border Payments Payments 40

The Paypers

JULY 26, 2016

(The Paypers) ICICI Bank and Axis Bank are the first Indian banks to sign up for Swift’s global payments innovation initiative.

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SWIFT Payment Initiation Payments Global Payments 28

PYMNTS

APRIL 1, 2019

The jockeying for cross border-payments continues, and SWIFT and Ripple continue to dominate the headlines. As noted, SWIFT has rolled out its gpi (short for global payments initiative). Ripple has xRapid, its cross-border payments solution.

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The Paypers

AUGUST 13, 2020

AscendantFX Capital have become members of the SWIFT network, and more specifically the Global Payment Initiative.

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SWIFT Payment Initiation Global Payments Payments 28

PYMNTS

APRIL 6, 2016

Payments messaging firm SWIFT is looking to gain support for its global payments initiative and, most recently, announced the latest backers of the pilot program. The company said it will hope to improve the transparency and speed of global payments with the program.

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Cross-Border Payments Cross-Border B2B SWIFT 41

PYMNTS

AUGUST 13, 2019

While the Federal Reserve dives into domestic faster payments, other players have been working to accelerate money globally. Financial messaging service provider SWIFT , for one, recently tested an effort to send money instantly between countries’ real-time payment systems.

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PYMNTS

JUNE 16, 2016

The interbank messaging firm SWIFT has had a rough few months. Cyberattackers were able to steal $81 million from the Bangladesh central bank by compromising the SWIFT messaging system , forcing the company — and financial services players everywhere — to take a renewed look at payments security measures. What Else Do You Need?

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PYMNTS

JANUARY 4, 2019

Verdict also noted that the service is the first Automated Clearing House (ACH) under the central bank’s National Retail Payment System. Like other instant payment initiatives, the goal is to spur the adoption of electronic payments.

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PYMNTS

DECEMBER 19, 2019

As CNBC noted, and per commentary from Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), “increasing non-market risks of the global payment infrastructure” has been the tailwind behind the move toward integration. Increasing and enabling debit card payments will help Google grow in mobile payments, he said.

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PYMNTS

DECEMBER 19, 2019

As CNBC noted, and per commentary from Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), “increasing non-market risks of the global payment infrastructure” has been the tailwind behind the move toward integration. Increasing and enabling debit card payments will help Google grow in mobile payments, he said.

Mobile Payments 52

Mobile Payments Online and Mobile Banking Cross-Border Payments 52

PYMNTS

SEPTEMBER 7, 2017

Efficiency is closely linked to digitization, so the Fed’s efforts to promote payments efficiency mean promoting the use of electronic payments. This includes the implementation of ISO 20022 messaging standards across organizations like NACHA and SWIFT.

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Fintech Review

MARCH 5, 2025

SWIFT plays a key role in this process. A UK bank sending money to the US sends a SWIFT message with payment instructions. Banks process payments only during business hours, delaying transactions over weekends and holidays. Smaller banks must work through major correspondent banks to access global markets.

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