Fintech Finance

OCTOBER 9, 2024

This partnership enables the Italian and French communities, via their PSP, to secure their cross-border payments in offering a high added-value service to meet the requirements of the Instant Payment Regulation and beyond. The post CBI and SEPAmail.eu

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IBAN Interoperability Payee Verification 102

The Fintech Times

MAY 13, 2024

CEC (Centre For Exchange And Clearing), the central point for channelling retail payment transactions between banks in Belgium, has plumped for SurePay to deliver verification of payee (VoP) services. ” The post SurePay to Lead Verification of Payee Integration in Belgian Banks appeared first on The Fintech Times. .

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Payee Verification Instant Payments Consulting 62

Fintech Finance

APRIL 11, 2024

With impending regulatory changes from the UK Payment Systems Regulator (SD17) and EU legislation on Instant Payments, data and security (PSD3), it is imperative that financial institutions have Verification of Payee (EU) and Confirmation of Payee (UK) solutions in place.

Payee 52

Payee Verification Payment APIs and Integration IBAN 52

Finextra

JULY 3, 2024

At EBAday 2024, Sheri Brandon, Chief Market Officer, Northern & Western Europe, Worldline, sets the scene around the challenges and strategies that permeate when implementing instant payments, including short deadlines that must be met amid many other ongoing regulation projects.

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Instant Payments Liquidity Management Payee Verification 59

Fintech Finance

JUNE 18, 2024

Swift today published the findings of research that shows Small and Medium Enterprises (SMEs) in the European Union feel positive about the EU’s Instant Payments Regulation, with many expecting it to save them money, improve their cashflow, and increase their competitiveness. Harnessing the benefits of instant payments in Europe.

Instant Payments 90

Instant Payments SWIFT Cross-Border Payments Cross-Border 90

The Fintech Times

OCTOBER 24, 2024

As much as two in three European banks may not be prepared to meet the EU’s instant payment deadline, a new survey by the transaction data management firm, Intix , has revealed. The post 25% of European Banks Aren’t Ready to Comply With EU Instant Payment Deadlines, Intix Reveals appeared first on The Fintech Times.

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Instant Payments ISO 20022 Fraud Detection ISOs 57

Finextra

MAY 9, 2024

Confirmation of Payee (COP) has a key role in the instant payments infrastructure as a service that verifies account names prior to making a payment, the scheme ensures that funds are being transferred to the correct account.

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Instant Payments Payee Payments Accounts 52

The Fintech Times

JUNE 19, 2024

Small and medium enterprises (SMEs) across the European Union currently feel positive about the EU’s Instant Payments Regulation, with many expecting it to save them money, improve cashless, as well as their competitiveness; according to new research by financial messaging network Swift. One in five expect to be more competitive.

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Instant Payments SWIFT Cross-Border Payments Regulations 57

Fintech Finance

MAY 23, 2024

Finastra , a global provider of financial software applications and marketplaces, today announced it has been selected by LGT to roll out instant payment services in Austria and Liechtenstein, with other markets to follow. We look forward to supporting LGT on further developing its payments services.”

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Instant Payments Compliance Regulations Payment APIs and Integration 52

The Fintech Times

MARCH 31, 2024

SurePay , the IBAN-name check provider, confirmation of payee (CoP) and verification of payee (VoP) to over 100 banks, has expanded its services following a strategic agreement with Swift , the messaging network, and the integration of Swift’s payment pre-validation service.

Payee 57

Payee SWIFT Cross-Border Cross-Border Payments 57

Fintech Finance

MAY 21, 2024

The deadline from the UK Payment Systems Regulator for Payment Service Providers is 31 October 2024 (Specific Direction 17). The deadline in Europe for Verification of Payee, based on the Instant Payment regulation, is October 2025. billion CoP/VoP checks across the UK and EU since 2017.

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Payee Verification Regulatory Compliance Scams 52

Fintech News

JUNE 10, 2024

Through iPiD’s real-time verification capabilities, Eastnets’ clients can confirm the name and bank account details of payment beneficiaries before transactions occur. This is particularly crucial for instant payments, where funds are irrecoverable once sent. said Deya Innab, Eastnets’ Deputy CEO.

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Fraud Prevention Global Payments Payee Verification 112

Fintech Finance

APRIL 4, 2024

iPiD , a leading payment validation solutions provider, today announced the publication of a pivotal whitepaper, “Verification of Payee: The Race to Compliance,” authored by CEO Damien Dugauquier. The paper is now available on the iPiD website at www.ipid.tech/verification-of-payee-the-race-to-compliance.

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Payee Service Provider Verification Compliance 40

Fintech Finance

JUNE 10, 2024

This collaboration will enhance the security and efficiency of payments for banks, corporates, and other financial institutions, reinforcing the protection of their customers and suppliers against financial fraud globally. This service is vital for ensuring the accuracy of instant payments, where funds are irrecoverable.

Payee 52

Payee Instant Payments Verification Payer 52

Fintech News

JUNE 13, 2024

The increasing prevalence of digital and instant payments highlights the need for secure transactions. iPiD’s solution ensures protection against failed or misdirected payments through real-time payee verification, addressing issues before they occur, and identifying malicious parties.

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Verification Payee Account Validation Payments 101

The Payments Association

OCTOBER 25, 2023

This report is based on a peer-based, real-time comparison benchmarking survey on - real-time/instant payments, cross-border payments, ISO 20022 messaging, transitioning from on-premise to SaaS, compliance and regulation, cash positioning and fraud monitoring, and pre-validation (Confirmation of Payee). Read more

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ISO 20022 Cross-Border Payments Cross-Border Payee 88

PYMNTS

DECEMBER 3, 2019

But by the numbers, it is starting to look an awful lot like instant disbursements are about to join the pantheon. As of the closing days of 2019, instant payments are far from an exotic product. When we asked in 2017 how many consumers have received an instant payment, the answer was a paltry 11 percent.

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Instant Payments Payee Payments P2P 56

PYMNTS

NOVEMBER 15, 2019

Instant payments has its biggest opportunities for growth here, Edwards noted, because the process is the most obviously problematic when it comes to ad hoc one-to-many payments. Instant payments done right in this context, he said, offer up everything the check offers but faster, cheaper and safer.

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Instant Payments Innovation Payee Payments 49

PYMNTS

AUGUST 10, 2020

Instant payments are one of these solutions, allowing companies to digitally transfer funds 24/7 year-round. Consumers and other businesses can access their tax refunds, benefits, freelance income, insurance claims, dividend payments and other disbursements within 30 minutes of being paid — sometimes even within seconds.

Payee 91

Payee Instant Payments Point-of-Sale (POS) Debit Card 91

Finextra

MARCH 18, 2024

A few days after the Instant Payments Regulation adoption by the Council of the EU, LUXHUB’s shareholders (Spuerkeess, BGL BNP Paribas, POST and Raiffeisen) are expressing today their support to the company’s Payee Verification Platform.

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IBAN Checks Payee Instant Payments 52

PYMNTS

JANUARY 3, 2020

Rarely do consumers and businesses agree on anything as much as they have on instant. Now, legacy FIs and a host of other players are scrambling to get a piece of the instant money action. Inspecting the “up-and-to-the-right” growth curve of instant payments , it’s no shock how many players want in. Making Money Fast.

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Instant Payments Payments Push-to-Card Ubiquitous 60

Finextra

JUNE 12, 2024

FinextraTV and Banfico’s CEO Kannan Rasappan explore all the current moving pieces of the puzzle for payments service providers in the EEA region, dive deep into the biggest challenges ahead of compliance with the incoming instant payments regulation in October 2025 and how Verification of Payee will impact this.

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Regulations Interoperability Cross-Border Payments Cross-Border 59

PYMNTS

AUGUST 10, 2020

Instant payments that enable the 24/7, year-round transfer of tax refunds, benefits, dividend payments and other disbursements could be key to quickly getting them money for much needed purchases within 30 minutes or less.

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Payee Instant Payments Tax Refunds Debit Card 88

Fintech Finance

JUNE 5, 2024

This funding will accelerate iPiD’s efforts to enhance payment security globally, with a focus on strategic markets like Europe and Asia. Founded in 2021 by a team of former Swift executives, iPiD provides cutting-edge payee verification and identification solutions. Confirmation of Payee in the UK is a case in point.

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Payee Verification Cross-Border IBAN 52

PYMNTS

DECEMBER 27, 2019

The word is out about instant payments — a fact made largely indisputable by the numbers. Instant disbursements are also picking up steam where it really counts — usage. When we asked in 2017 how many consumers have received an instant payment, the answer was a mere 11 percent. Choice: The Golden Rule of Instant .

Instant Payments 52

Instant Payments Payments Push-to-Card Payer 52

PYMNTS

OCTOBER 1, 2020

consumers and 500 microbusinesses that receive disbursements, as well as 600 companies of all sizes that make disbursements on payout options, instant payment adoption and fees for these services, among other topics. percent) received at least one, non-tax disbursement in the past year, the vast majority of which were not instant.

Instant Payments 122

Instant Payments Payee Same Day ACH Non-Bank 122

PYMNTS

MARCH 21, 2019

That’s because, when a customer is dealing with the healthcare system, worrying about how to receive the payment is likely their least important concern. While from a consumer standpoint, the payment process in healthcare might look like a payor cuts a check and a payee gets it in the mail, Bloh noted that the process is rarely that simple.

Instant Payments 60

Instant Payments Innovation Payments Visa 60

PYMNTS

OCTOBER 8, 2019

For senders, delivering that experience means more than just moving money faster into bank accounts or digital wallets — it is also about offering the payment choices that create ubiquity for the consumers on the other end of the transactions. From the Appearance of Instant to the Reality of Instant.

Instant Payments 49

Instant Payments Push-to-Card Payments Settlement 49

Fintech Finance

AUGUST 15, 2024

The Sionic Fraud Protection Service (FPS) is the final component required for true Pay-by-Bank transactions at the point of sale, alongside verified buyer and seller credentials, a consistent customer experience and automated dispute resolution instantly between payers and payees.

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AI Fraud Detection Technology Real Time Payments 87

PYMNTS

MARCH 21, 2019

That’s because, when a customer is dealing with the healthcare system, worrying about how to receive the payment is likely their least important concern. While from a consumer standpoint, the payment process in healthcare might look like a payor cuts a check and a payee gets it in the mail, Bloh noted that the process is rarely that simple.

Instant Payments 40

Instant Payments Innovation Payments Visa 40

The Fintech Times

OCTOBER 31, 2024

LSEG Risk Intelligence is launching Global Account Verification, which checks payee and account details match before transfers are confirmed, as well as Document and Biometric Verification, which uses AI and deep learning to accurately conduct identity checks.

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Mitigation Risk Global Payments Deepfake 57

Fintech News

AUGUST 13, 2024

In a recent webinar hosted by the Fintech News Network, experts from the Bank for International Settlements (BIS), Wise, Airwallex, and LexisNexis Risk Solutions explored the latest trends and developments in cross-border payments, emphasizing the pioneering role of Southeast Asia in this rapidly evolving landscape.

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Cross-Border Payments Cross-Border Payments Instant Payments 122

Fintech Finance

JULY 4, 2024

The Bank for International Settlements (BIS) defines offline payments as the transfer of a digital money token between devices that takes place without the payer and payee requiring a networked connection to any ledger system or backend system to complete the payment.

Digital Payments 93

Digital Payments Online and Mobile Banking Central Bank Financial Inclusion 93

The Fintech Times

DECEMBER 31, 2023

In 2024, payment experts foresee increased demand for instant payments, greater use of alternative payment methods, simplified mobile-friendly payments, user-focused and secure payment practices, automation of payment processes, and heightened reliance on data analysis and AI.

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Global Payments Alternative Payment Methods Online and Mobile Banking Instant Payments 123

PYMNTS

AUGUST 5, 2019

It’s why he is emphatic that understanding the “how” of check fraud via digital channels like mobile remote deposit is what will ultimately lead banks to the “why” and “why now” of instant payments. Unlike checks, instant payments is, well, instant – and irrevocable. The Whole New World of Check Fraud.

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Checks Instant Payments Online and Mobile Banking Irrevocability 65

PYMNTS

AUGUST 31, 2020

A growing group of financial institutions (FIs) are placing themselves at the forefront of the modernization push by engineering disbursements frameworks easily accessed via digital platforms, and which promise to improve the experience for payees and payors alike. “In Overcoming Flawed Perceptions. That’s changing.

Payee 60

Payee Cross-Border Instant Payments Push-to-Card 60

PYMNTS

NOVEMBER 19, 2020

With all of the problems and challenges 2020 has thrown at us, the last thing anyone needs is a nagging perceptual rift between payees and payers about what “instant” means. percent, state that most of their non-government payments come through non-instant methods and take more than a day to receive. Yet, there it is.

Instant Payments 94

Instant Payments Non-Bank Payer Payments 94