Fintech Finance

JUNE 3, 2024

VGS has announced a strategic partnership with Onafriq , Africa’s largest payments network, that is aimed at bolstering security and innovation for Fintechs across Africa and the Middle East. “We are thrilled to deepen our partnership with Onafriq and embark on this journey of innovation and collaboration,” said VGS CEO Chuck Yu.

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Fintech News

MARCH 25, 2024

Swift’s CBDC sandbox is aimed at testing the interlinking solutions for CBDCs, focusing on more sophisticated use cases like digital trade, tokenised assets, FX networks, and payment systems. They show that institutions can continue to use much of their existing infrastructure alongside new, innovative technologies.”

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Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World. “The evolving nature of cross-border payments demands a proactive approach.

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Fintech News

MAY 27, 2024

CBDC for cross-border payments, programmable money, and DeFi Kazakhstan’s Digital Tenge project is pursuing several ambitious goals: intensifying cross-border trade, implementing innovative social and anti-corruption initiatives, and integrating digital assets issued by decentralised finance (DeFi) participants and those issued by the government.

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The Fintech Times

MAY 18, 2024

Eurosystem , the monetary authority of the eurozone, has been exploring the possible use cases of distributed ledger technology (DLT) to conduct wholesale settlement in central bank money. It has now completed its first experiment using DLT, giving the monetary authority a glimpse into the potential merits of the tech.

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The Fintech Times

JUNE 8, 2024

Rajat Mishra , COO at Onafriq , commented: “By leveraging VGS’s best-in-class technology and combining it with Onafriq’s unique expertise around payment interoperability, we are confident that we can drive meaningful impact and shape the future of fintech across MEA.”

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Fintech Review

AUGUST 27, 2024

However, one of the significant challenges it faces is interoperability between different blockchain networks. Cross-chain interoperability aims to address this issue, enabling seamless communication and transactions across various blockchain platforms. Interoperability is vital for several reasons.

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The Fintech Times

DECEMBER 15, 2023

Today our selection of leaders discuss the evolving payment landscape in 2024, touching on trends like convergence of personal and corporate payments, real-time cross-border payments, interoperability’s influence, and the significance of orchestration in streamlining payments in the travel sector.

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Fintech Finance

JUNE 5, 2024

This innovative system facilitates instant payments between individuals and businesses, thereby reducing reliance on cash-based transactions and expanding the use of digital payments to Peru’s large unbanked population. The support of the Reserve Bank of India has been a cornerstone of this agreement.

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The Fintech Times

JANUARY 24, 2024

It is designed to progress markets by driving the adoption of innovative solutions, industry standards, enabling efficiency, cost reductions, and the safe integration of DLT into core business operations. She joins R3 with a proven track record of building innovative, industry-leading businesses and products for financial markets.

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Faster Payments Council

AUGUST 23, 2024

This session will provide a comprehensive analysis of key industry metrics, highlight opportunities for innovation, and offer strategic guidance to navigate the evolving landscape of payments. It's time to confront the harsh reality—innovation alone doesn't drive broad adoption.

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Fintech News

DECEMBER 11, 2023

SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, and Giesecke+Devrient (G+D) successfully completed a proof-of-concept (PoC) on the Universal Digital Payments Network (UDPN). Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system.

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PYMNTS

OCTOBER 15, 2020

Against that backdrop of moving away from paper payments, and toward ubiquitous real-time payments, TCH’s Waterhouse said there’s probably not a use case “that’s going to tip the scale here.” But he pointed to a use case that might be a bit under the radar. Interoperability In Focus .

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Fintech Finance

JULY 24, 2024

With experience and focus on innovative payment services across Real-Time Payments (RTP® and FedNow®), ACH, card solutions and alternative payment rails, Carl is well-positioned to support the FPC’s continued growth and innovation in faster payments.

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PYMNTS

DECEMBER 18, 2017

“If I send you a message, there is all kinds of interoperability happening in the background that is moving the data from one network to another and one platform to another. What it should be focused on instead is how to make payments systems interoperable. Integrations Vs. Interoperability. Smoothing Out the Process.

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Fintech Finance

MAY 16, 2024

Completed under the Hong Kong Monetary Authority (“HKMA”)’s Fintech Supervisory Sandbox, the POC is the latest milestone in driving fintech innovation and developing the tokenization market in Hong Kong.

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Faster Payments Council

MARCH 15, 2023

With the system joining the existing RTP system, both promising to modernize the way money moves and allow for greater use of instant payments, it seems the shift to real-time payments is 'inevitable'. Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability.

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Fintech News

AUGUST 23, 2024

These events are serving as platforms for networking, knowledge exchange, and the showcase of innovative solutions. The conference will also host an expansive expo showcasing fintech innovations, investment pitches, workshops, hackathons, and the launch of 20 thought leadership reports.

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Fintech News

MAY 8, 2024

This led to the launch of the Retail CBDC Pilot Programme in 2023, which involved real-value CBDC testing with retail users and merchants and the exploration of innovative use cases. The Innovation Track consisted of public engagements and exploring CBDC for financial innovation.

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The Fintech Times

MAY 16, 2024

Together, the companies have successfully completed a proof-of-concept (POC) pilot to drive fintech innovation and develop the tokenised assets market in Hong Kong. Working with others, Mastercard will deploy innovative technologies to benefit businesses that are looking to exchange value safely and securely.

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Faster Payments Council

FEBRUARY 2, 2022

The FPC conducted the latest survey of payments system stakeholders to gauge progress and perceptions around faster payments, trends, use cases, and challenges in the United States. Many respondents also reminded us that we have not reached an ideal state with the need for interoperability again perceived as key to success."

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PYMNTS

JANUARY 22, 2019

Financial Innovation Now (FIN) submitted a public letter in December, contending that the Fed was best-positioned to operate a ubiquitous, interoperable real-time payments network. Innovation, flexibility and agility helped drive WEX ’s acquisition of Discovery Benefits, Inc. DBI) in 2018.

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Fintech News

JUNE 19, 2024

This means that unlike a lot of digital assets, whose practical applications might not be known for some time (if ever), stablecoins have begun to show demonstrable real-world use cases. Project Orchid, and the 1st use of purpose bound money, in partnership with Grab.

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Fintech Finance

JULY 4, 2024

On the day that the United Kingdom heads to the polls to vote in the General Election, The Payments Association , which celebrates innovation and collaboration across the industry, has drafted a letter to the UK’s new Chancellor of the Exchequer.

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PYMNTS

JULY 26, 2019

Regardless of how, these technologies and their innovators share common goals: to accelerate and streamline cross border payments. Sooner or later, these systems will need to interoperate to better fulfill the needs that our customers will demand from us.”. Others, like Visa B2B Connect and SWIFT gpi , aim to transform it.

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PYMNTS

OCTOBER 12, 2020

These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. Looking Toward Interoperability And Scale . Interoperability is a core component” of FedNow, said Montgomery.

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PYMNTS

NOVEMBER 8, 2017

Financial institutions need to be actively exploring use cases for real-time payments within their own organizations for meeting the requirement of their customers. FIS surveyed 25 markets in which real-time payments programs are operational, rating their innovative qualities on a scale from 1 to 5.

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Clearly Payments

JANUARY 4, 2024

Each cryptocurrency operates on its own underlying technology and has unique features that may cater to different use cases. In the future, there will likely be the opportunity to use central bank digital currencies (CBDCs) that are digital tokens issued by the government. This is covered in the below section.

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Faster Payments Council

SEPTEMBER 23, 2023

Few use cases have the potential for growing volumes as do commerce payments yet paying a merchant with a credit push transfer isn't easy. Thise session envisions the art of the possible for commerce use cases in the U.S. The US does not lack directory capability – we have an overabundance of it!

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PYMNTS

JANUARY 21, 2019

That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. The Fed’s real-time payments proposal, FIN says, will address these issues with a new, modern and interoperable system.

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PYMNTS

MARCH 15, 2019

Commerce Department is expanding its Trade Finance Advisory Council (TFAC), having recently appointed 21 new members to the group in an effort to explore innovation in and access to trade finance. “The ready availability of trade finance is a crucial ingredient to the success of U.S. And there will be a few that survive.”.

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PYMNTS

AUGUST 10, 2020

Waiting for the Fed — and its promise of interoperability, which requires participation from the private sector — is akin to playing the (very) long game. Expanding The Use Cases. Waterhouse said that getting banks to sign on is about showing them the relevant use cases that will drive revenue and even new customer acquisition.

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The Fintech Times

APRIL 11, 2024

This trend fosters greater collaboration and innovation. “It is also great to see a surge in innovation, which can be witnessed by the number of neobanks entering the market and disrupting the financial services sector by challenging the status quo of traditional banking models.

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Fintech News

MAY 21, 2024

A recent report by SBI Digital Asset Holdings (SBI DAH) sheds light on the growing interest and adoption of these innovative financial instruments among institutional investors. This includes establishing reliable trading platforms, secure custody providers, efficient settlement systems, and interoperable blockchain networks.

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PYMNTS

AUGUST 7, 2019

The Nets deal, he recounted, follows logically from recent acquisitions, like Vocalink, where infrastructure was the focus but now looks toward applications and new use cases as revenue drivers. The Use Cases. The second use case on offer revolves around bill presentment and payment.

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Faster Payments Council

SEPTEMBER 12, 2022

How can we look to this rapidly growing business for new use cases for instant payments? The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. What will this look like in the coming years? market needs to keep in mind when creating directories.

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PYMNTS

NOVEMBER 27, 2019

A lack of interoperability between local payment networks is among the largest of those hurdles, said Halpin. For faster payments, technological innovation is introducing newer capabilities, but as Halpin emphasized, it will ultimately be up to the payments community of end users whether that technology is used.

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