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The solutions that faster payments technology have brought to corporates’ global operations cannot be downplayed, but major hurdles continue to challenge real-time payments’ ability to achieve ubiquity. A lack of interoperability between local payment networks is among the largest of those hurdles, said Halpin.
in its faster paymentsinitiatives. The main drivers behind CPA’s ISO 20022 initiative are to provide the Canadian financial community with enriched, robust remittancedata, to enhance domestic and cross-border interoperability and to increase efficiency,” said Mark Brule, director of the CPA’s payments innovations operations.
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