PYMNTS

JANUARY 31, 2019

Financial messaging service SWIFT said this past week that it has fashioned a partnership with R3 , a blockchain startup. The partnership will integrate the R3 platform into the SWIFT global payments innovation (gpi) offering. I think that today, that is not what SWIFT is.”.

SWIFT 77

SWIFT Blockchain Cross-Border Payments Federal Reserve 77

PYMNTS

OCTOBER 15, 2020

Panel members included Russ Waterhouse , EVP at The Clearing House; Mike Kresse , SVP card and money movement at FIS; Jane Larimer , CEO at Nacha; David Scola , chief executive, Americas and UK at SWIFT; and Jeremy Allaire , CEO at Circle. Moving Beyond ACH . So that is certainly an aspiration.

Real Time Payments 125

Real Time Payments NACHA SWIFT TCH 125

Fintech Finance

OCTOBER 21, 2024

Over the past year Wise Platform , Wise’s global payments infrastructure for banks, financial institutions and larger enterprises, has further enhanced its product suite for partners and significantly expanded its global regulatory footprint.

Cross-Border 98

Cross-Border Global Payments Cross-Border Payments Multi-Currency 98

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. Progress in Tackling Cross-Border Payments Friction.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

Payments Source

MAY 26, 2016

Investigators are examining possible computer breaches at as many as 12 banks linked to Swift’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar with the probe.

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SWIFT Central Bank Breach Payment Networks 64

Payments Source

DECEMBER 27, 2018

The financial services and payments industries are aggressively trying to replace older systems with sleeker technology, but Swift has a separate goal in mind with the Global Payments Innovation system, or GPI.

SWIFT 67

SWIFT Global Payments Innovation Technology 67

Payments Source

APRIL 9, 2019

National Australia Bank is utilizing the end-to-end transaction tracking system through Swift's Global Payments Innovation system, making it the first bank in Australia to allow business customers to track international payments through one click on an account platform.

SWIFT 65

SWIFT International Payments Payments Global Payments 65

Payments Source

DECEMBER 5, 2018

Fifteen major banks will test Swift's pre-validation service for Global Payments Innovation transactions, focusing on quickly identifying and eliminating errors or omissions in payment messages.

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SWIFT Payment Message Payments Global Payments 61

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.

SWIFT 60

SWIFT Payment Initiation Cross-Border Non-Bank 60

PYMNTS

NOVEMBER 7, 2018

FIS , a global leader in financial services technology, announced that it has connected LVMH Group to the SWIFT Global Payments Innovation (gpi). LVMH Group plans to expand its SWIFT gpi implementation across its full cross-border payment network, which processes more than 1.5

SWIFT 58

SWIFT Cross-Border Payments Cross-Border Treasury 58

PYMNTS

AUGUST 31, 2020

The first is improved speed, shown by the adoption of cloud technology from global payments network SWIFT. This network is quickly becoming more popular as a replacement for correspondence banking models, partnering with BNY Mellon and Microsoft to enable payments at 11,000 FIs in more than 200 countries around the world.

Real Time Payments 135

Real Time Payments Online and Mobile Banking Correspondent Bank SWIFT 135

Payments Source

DECEMBER 18, 2018

The Global Payments Innovation service now moves 55 percent of Swift's cross-border transactions as it nears its second anniversary.

Cross-Border 60

Cross-Border Cross-Border Payments SWIFT Global Payments 60

PYMNTS

FEBRUARY 3, 2019

SWIFT global payments network has agreed to help Bangladesh Bank rebuild its infrastructure after hackers stole $81 million in 2016. The funds were stolen when cybercriminals hacked into Bangladesh’s systems and sent fake orders via SWIFT to the NY Fed. For its part, RCBC says the lawsuit is beyond the U.S.

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SWIFT Fed Law Enforcement Payment Networks 45

PYMNTS

SEPTEMBER 26, 2016

Earlier this year, cybercriminals stole $81 million from the Bangladeshi central bank, and they also stole the trust that the SWIFT global payments network had built with its 11,000 users. Payments networks must constantly find new ways to battle incoming digital threats. from March 2015 to March 2016.

Online and Mobile Banking 78

Online and Mobile Banking SWIFT Credential Central Bank 78

Payments Source

JANUARY 23, 2019

The Society for Worldwide Interbank Financial Telecommunication reports that its Global Payments Innovation system, which it launched two years ago, now handles more than a million payments a day.

SWIFT 67

SWIFT Global Payments Innovation Payments 67

Fintech Finance

JUNE 19, 2024

New research released today by emerchantpay , a leading global payment service provider and acquirer, has found that there is strong market potential for merchants who prioritise the adoption of Open Banking payments early in their payment strategies.

BNPL 124

BNPL Research eWallet Payments 124

PYMNTS

JULY 1, 2019

The rise of the global economy and the demand for swift and secure cross-border payments is driving the development of more efficient infrastructures, and spurring financial institutions (FIs) to experiment with emerging tech. Canadian payments network Interac has experimented with blockchain for consumer payments.

Cross-Border Payments 84

Cross-Border Payments Cross-Border Blockchain SWIFT 84

Fintech Finance

APRIL 9, 2024

It will launch an embedded finance feature for SEPA, SEPA Instant, FPS and SWIFT transactions. Now more than ever, financial agility and global connectivity are crucial. PayDo aims to improve cross-border payments. It will do this by providing access to SEPA, SEPA Instant, and SWIFT transactions.

Embedded Finance 52

Embedded Finance Finance Payment APIs and Integration Cross-Border Payments 52

Payments Source

APRIL 30, 2018

The Society for Worldwide Interbank Financial Telecommunication has its sights set on expanding real-time payments in the Asia-Pacific region as part of its plan to further its first value-add service created from the Global Payments Innovation initiative.

Real Time Payments 62

Real Time Payments Cross-Border SWIFT Payments 62

PYMNTS

AUGUST 16, 2019

In 2017, the European Payments Council launched the pan-European Single Euro Payments Area ( SEPA ) Instant Credit Transfer System, and Southeast Asian countries Indonesia, Malaysia, Singapore, Thailand and Vietnam agreed to establish a real-time cross-border payments network. and Australia’s NPP.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

Fintech Finance

JULY 10, 2024

Research released today by emerchantpay , a leading global payment service provider and acquirer, has revealed the factors influencing how consumers choose to pay online. Security, privacy, speed and efficiency are all offered by Open Banking payments – above and sometimes beyond the capabilities offered by other payment methods.

Privacy 94

Privacy Consumer Security Payments 94

PYMNTS

DECEMBER 17, 2019

Payment rails are getting more attention these days, and there is an increasing focus on offering a standardized, relatively seamless experience that can be locked and loaded by various operators with minimal hassle. Payment rails are undergoing significant innovation, a trend that promises to continue into the 2020s in various areas.

Central Bank 52

Central Bank Global Payments Cross-Border Payment APIs and Integration 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

The Fintech Times

MARCH 14, 2024

This move marks a significant shift in the global payments and shopping solutions provider’s ambition to create a future-oriented payments network. Pay by bank To complete a payment, consumers select ‘Pay by bank,’ redirecting them to their mobile banking app for a swift and secure transaction.

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Settlement Consumer Debit Card Payments 69

PYMNTS

JULY 31, 2019

According to the latest Smarter Payments Tracker , global payment usage is at an all-time high. So, why do cross-border payments present so many challenges? Mastercard has instead purchased cross-border transaction providers to expand its payments networks and offer similar solutions. Currently, there are 0.7

Cross-Border Payments 72

Cross-Border Payments Cross-Border Distributed Ledger Technology (DLT) Payments 72

PYMNTS

JULY 22, 2019

PayMate said its award-winning platform serves 35,000 businesses processing about $5 billion in payments annually. The cloud-based software uses automated solutions for business payment process and provides the infrastructure for the swift transfer of funds. Ramachandran, Visa’s group country manager for India and South Asia. “At

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B2B Automation SWIFT Payment Networks 73

Wharton Fintech

JANUARY 18, 2024

We provide products from payments and collection, FX and payout all the way to embedded finance to allow or empower any businesses to operate the whole financial and payments stack on top of our platform. Our goal was to access local payment networks directly, avoiding intermediaries like SWIFT.

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Cross-Border Cross-Border Payments Payment APIs and Integration Embedded Finance 130

The Paypers

MARCH 6, 2019

(The Paypers) India’s central bank has fined at least 19 lenders for failing to comply with its guidelines on the use of global payments network SWIFT.

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SWIFT Compliance Central Bank Payment Networks 28

PYMNTS

FEBRUARY 6, 2019

After a long, intensive crash course in payments, international money transfers, SWIFT , AML/KYC and a host of other financial service areas, it was clear to Nanu that the international payments market was in dire need of newer, better ideas. It’s not that the old systems are bad or wrong, though, he noted.

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Issuers P2P Cross-Border Push-to-Card 75

PYMNTS

SEPTEMBER 11, 2019

Last week, seven European payments operators announced the European Mobile Payment System Association initiative, a new pan-European network focused on cross-border mobile payments. Last week, SWIFT launched a new API standard for the pre-authorization of funds.

Cross-Border Payments 76

Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

JANUARY 10, 2019

In other blockchain-related cross-border news, Ripple said that 13 additional financial firms have signed onto RippleNet , a payment network offered by the firm. As has been reported, the gpi allows real-time cross-border payments, and through ACI, lets 300 member banks send payments cross-border and in real time.

Blockchain 77

Blockchain Cross-Border Cross-Border Payments Payment APIs and Integration 77

PYMNTS

DECEMBER 10, 2019

What’s more, the global nature of cross-border B2B payments means there is no clear strategy to successfully tackling those challenges. “I While corporates have displayed “mixed” demand for faster payments, though, the global payments ecosystem continues to focus on real-time capabilities. s Faster Payments.

Cross-Border 52

Cross-Border B2B Cross-Border Payments Interoperability 52

PYMNTS

SEPTEMBER 26, 2016

According to FT , online shopping and the adoption of mobile payments have spurred growth in revenues from the payments sector, and McKinsey predicts that global payments revenues will increase from $ 1.8 While most international bank transfers take days to complete, this took just 20 seconds. trillion in 2014 to $2.3

Regulations 72

Regulations Online and Mobile Banking FinTech Third-Party Service Provider 72

PYMNTS

JUNE 2, 2016

The letter, addressed to New York Fed President William Dudley, requests that “all documents and communications” related to the theft, oversight of global payment network SWIFT and the status of any of the Fed’s own reviews since the attack be turned over to the committee.

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Federal Reserve Fed SWIFT FBI 40

PYMNTS

NOVEMBER 7, 2016

Medvedev said his proposal would remove reliance on global payment systems, including SWIFT. “In this respect, this kind of cooperation is very useful because, in this situation, no one will be able to block the development of financial traffic,” Medvedev said.

Settlement 71

Settlement Payments SWIFT Blocks 71

The Fintech Times

MARCH 11, 2024

“We have been powering and protecting our global payments network and the broader digital ecosystem for more than five decades, and now Mastercard’s innovative open banking technology will offer consumers and businesses across Europe access to more innovative payment experiences.”

Visa 59

Visa Payment Solutions Payments Facilitators 59

PYMNTS

MAY 23, 2018

SWIFT Deepens Faster Payments Presence Across Europe. Global payments logistics service provider EFiS is broadening its collaboration with payments messaging firm SWIFT to facilitate connection to faster payments networks in Europe. Yelp Renews Antitrust Complaint Against Google.

Faster Payments 40

Faster Payments SWIFT Payment Message Research 40