PYMNTS

AUGUST 31, 2017

With initiatives like the Faster Payments Task Force and the Secure Payments Task Force, the Fed is pushing for innovation and progress in the nation’s payments infrastructure and market. Sapenaro said B2B payments, too, are finally experiencing innovation and progress, but it still has a long way to go.

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Federal Reserve Innovation Secure Payments Task Force Faster Payments 64

PYMNTS

AUGUST 7, 2020

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. But she added that such innovation has raised “fundamental questions” about legal and regulatory safeguards.

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Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

JUNE 16, 2020

As the financial services industry seeks to expand the use and value of instant payments linking cross-border transactions with always-on digital commerce, uniting far-flung stakeholders and fostering interoperability is key. The containers are uniform and standardized even though they hold a broad range of items.

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ISO 20022 Cross-Border B2B ISOs 72

PYMNTS

SEPTEMBER 11, 2019

In June, the Chinese digital payment player Alipay and a handful of European mobile wallets announced a partnership to promote QR code payment interoperability. One-third of companies surveyed in the Real-Time Payments Innovation Playbook planned to implement them within the next three years. How Cross-Border Payments Are Made.

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

PYMNTS

MARCH 14, 2019

And there, Kohli said, innovation is helping corporates adapt to and manage these global risks. The rise of third-party payment providers, and the opportunity for traditional institutions to collaborate with them, has also opened doors for cross-border payments innovation. Treasurers’ Biggest Worries.

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

PYMNTS

OCTOBER 10, 2016

ISO 20022, which is designed to set the tone for global financial industry messages, provides a standardized approach to building messaging standards across financial services. As Throckmorton pointed out, it’s not about moving money but more about making processes better, more standard and more secure.

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Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

NOVEMBER 18, 2020

For the banks themselves, noted Volante’s Scaffidi, there is the opportunity to offer a range of value-added services to their clients – but he added that 40-year-old legacy systems serve as hindrances to moving quickly toward innovation. The “now,” according to the panelists, demands interoperability between rails, which is an eventuality.

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Real Time Payments ISO 20022 Reconciliation Payments 98

PYMNTS

AUGUST 7, 2019

“We obviously expect that the collective set of technology and the services that we’re buying can be further exported more widely across Europe and into other markets,” he said, with the goal to create an interoperable market of payments schemes that can facilitate account to account payments, in real time, across countries.

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Visa Acquirers Real Time Payments ISO 20022 77

PYMNTS

DECEMBER 12, 2019

An embrace of global standards like the ISO 20022 messaging standard will be key, said Killam. indeed, around the world — striking the balance of real-time payments adoption means technological innovation and industry participant cooperation will ensure real-time payments are ready to react and anticipate those changes.

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RTP Real Time Payments Faster Payments Cross-Border 72

PYMNTS

SEPTEMBER 7, 2017

Industry collaboration will be critical to achieving goals of accelerated payments, the Fed said, with top challenges identified as “interoperability, ubiquity and accessibility” of faster payments capabilities. This includes the implementation of ISO 20022 messaging standards across organizations like NACHA and SWIFT.

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Fed Federal Reserve Cross-Border Payments Cross-Border 49

PYMNTS

SEPTEMBER 21, 2016

Standards Australia will head the committee to guide implementation of blockchain technology and the messaging standards. Germany, Canada, Japan and others, reports said, and is looking to generate a streamlined and standard language for “interoperability among systems, privacy, security and terminology.”.

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Blockchain ISOs Blocks Message Standards 74

PYMNTS

AUGUST 16, 2019

The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable. Last month, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions.

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Cross-Border Payments Cross-Border ISO 20022 ISOs 81

The Fintech Times

JULY 20, 2024

This involves re-engineering the architecture towards modular, microservices-based frameworks, enhancing interoperability, and investing in robust cybersecurity. This has included using new technology and messaging standards (ISO 20022) to improve performance, data quality and operational efficiency.

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Payments Mitigation Regulations ISO 20022 75

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

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. and Canada.

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ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

MAY 12, 2020

In this week’s examination of payment rail innovation, PYMNTS explores the latest efforts to tackle B2B payments pain points. The companies said their solution aims to enhance the visibility and efficiency of B2B transactions, which have been largely left behind despite accelerating FinTech and payments innovation.

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B2B Same Day ACH FedNow Federal Reserve 52