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“Facilitating connectivity to SIC Instant Payments, and any critical payments infrastructure of this kind, reflects our commitment to supporting banks on their broader payment modernization journey – helping them to work in a more agile way and deliver value-addedservices to customers.”
It will allow payment service providers and merchant acquirers in Japan to accelerate speed to market with new innovative payment services, modernize merchant and consumer payment experiences, and lower the total cost of ownership.
According to Domenico Scaffidi , head of market infrastructures at Volante , there is a bit of a conundrum: While the most obvious value proposition of real-time payments is speed, corporate customers require value-addedservices alongside real-time payments on the basis that moving money in real time is not enough.
Visa has become a part of the ranks of companies experimenting with Phixius, a technology that assists credentialed service providers in exchanging and supervising digital payments data, NACHA said in a Wednesday (Aug. However, Phixius makes these deals less necessary as it offers interoperability. 12) announcement.
“Facilitating connectivity to SIC Instant Payments, and any critical payments infrastructure of this kind, reflects our commitment to supporting banks on their broader payment modernisation journey – helping them to work in a more agile way and deliver value-addedservices to customers.”
These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. FinTechs are interested in providing value-addedservices to FIs — and can conceivably connect their offerings to the FedNow platform via participating depository institutions.
As she told Webster: “When you start to think about corporates and middle-market companies, that's when you start to understand that infrastructure, the straight-through processing, the managed-service wrapper that a bank can bring is where the real efficiency and value are seen.”. That was then, this is now.”.
Additionally, standardisation of digital IDs is required to ensure they are interoperable with TSA systems. Across the industry, well need to see collaboration for secure, interoperable solutions that meet global standards. Enriched data insights enable AI innovation, translating into more tools and value-addedservices.
But speed is not enough, he added, as payment rails also need to include better data and widespread availability around the clock and interoperability that can support open use cases. Safety and security are also key concerns, he added, in order to identify suspicious activity and stop fraud.
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