Fintech News

OCTOBER 15, 2024

With the rapid evolution of payment methods and regulations, banks must stay ahead of the curve or risk being left out of the game. The necessity for modernisation is driven by several key factors, including the migration to ISO 20022, the rise of Open Banking and the introduction of Central Bank Digital Currencies (CBDCs).

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ISO 20022 ISOs Payments Federal Reserve 113

PYMNTS

NOVEMBER 10, 2020

Real-time payments aren’t just an opportunity for consumers to send and receive money more quickly. Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world. It’s the culture that is changing.”.

B2B 117

B2B Real Time Payments Value Added Service ISO 20022 117

PYMNTS

APRIL 29, 2019

An interoperable cross-border solution could remove these frictions and provide smooth transfers between two real-time payment systems, while a single, globally accessible faster payments service could offer swift end-to-end transfers. Privately-owned companies are also looking to solve the cross-border payments problem.

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Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

JULY 28, 2016

Though it can be traced back to 2004 and was revised as recently as 2013, the ISO 20022 framework is still a source of confusion across the payments industry. This “standard for standards” is designed to set the tone for a global financial industry message scheme, but unfortunately it is often misunderstood.

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ISO 20022 ISOs NACHA ACH 40

PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.

Cross-Border Payments 76

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

The Payments Association

FEBRUARY 14, 2025

If PSD2 and PSD3 light the fire, the upcoming necessary migration of ISO 20022 pours gasoline on it. In line with SWIFT and ECB timelines by November, a considerable portion of European cross-border and certain domestic payments must adopt ISO 20022 messaging standards.

ISO 20022 100

ISO 20022 Payment APIs and Integration ISOs Central Bank 100

PYMNTS

JANUARY 20, 2017

EBA Clearing, set to launch its real-time payment service across Europe later this year, has officially commenced the testing phase of its technology. EBA Clearing’s technology will enable real-time payments across the EU 24/7. EBA Clearing’s technology will enable real-time payments across the EU 24/7.

Real Time Payments 40

Real Time Payments ISO 20022 Payments Tools Message Standards 40

PYMNTS

OCTOBER 10, 2016

In the previous episode of NACHA’s Countdown to Same Day ACH podcast series, NACHA President and CEO Jan Estep identified the overlaps, complements and implications of all the initiatives under the faster payments umbrella — namely, real-time payments, Same Day ACH and blockchain. The Road To Process Improvement.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

NOVEMBER 19, 2020

As Canada gears up to launch its real-time payments system, the Real-Time Rail (RTR), Payments Canada , the entity at the head of the initiative, has announced that Mastercard -owned Vocalink has been chosen as the clearing and settlement solution provider for the new payment rail.

B2B 104

B2B Blockchain Real Time Gross Settlement (RTGS) Real Time Payments 104

PYMNTS

AUGUST 28, 2019

With that in mind, one can assume that real-time payment technologies are far from the top of businesses’ priorities when it comes to embracing new payment processes. Indeed, real-time payments adoption hurdles may be easier to clear for businesses. Speaking The Same (Payments) Language.

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ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

APRIL 19, 2017

Intesa Sanpaolo announced Tuesday (April 18) that it has successfully completed its first testing activities with EBA Clearing, using technology by Dovetail for pan-European real-time payments. Reports in January first surfaced that EBA Clearing was testing its own real-time payments solution compliant with EU payment standards.

Real Time Payments 40

Real Time Payments ISO 20022 Cross-Border Payments Cross-Border 40

PYMNTS

MAY 8, 2017

Real-time payments initiatives are under way all across the globe, but there is little consistency across jurisdictions regarding how the financial services sector takes on the initiative or where each market is at in terms of progress in achieving real-time payments capabilities. In the U.S., In the U.S.,

Real Time Payments 46

Real Time Payments ISO 20022 TCH ACH 46

PYMNTS

DECEMBER 21, 2018

In a collaboration with regional Mastercard teams, she will handle the strategic development of real-time payments programs around the world. David Yates, the president of new payments platforms for Mastercard, said he’s very excited about the hire. She also worked at Vocalink, which is now part of Mastercard.

Visa 63

Visa ISO 20022 Real Time Payments XML 63

PYMNTS

NOVEMBER 18, 2020

The Clearing House 's RTP network is now several years old, and while the real-time payments capability is gaining traction, adoption in the B2B landscape remains muted. Indeed, it can be difficult for businesses to change their payment habits. Today's Most Valuable Use Cases.

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RTP Use Case Real Time Payments ISO 20022 82

PYMNTS

JANUARY 17, 2017

s Faster Payments scheme is a critical component of the nation’s push towards real-time payments. The scheme offers real-time credits for payments made online, via mobile device and over the phone, when payments are valued at about $300,000 or less — making it a main player in P2P and SME payments.

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Faster Payments ISO 8583 ISO 20022 Message Standards 43

PYMNTS

AUGUST 13, 2019

Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow. The much-awaited decision dismayed large banks that regard a government-run system as unnecessary competition with their own real-time rail, The Clearing House’s Real Time Payments (RTP).

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On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

DECEMBER 12, 2019

continues to take significant steps toward a faster payments ecosystem , the market undoubtedly lags behind others across the world in the path toward real-time payments ubiquity. real-time payments journey in a recent interview with PYMNTS. Though the U.S. unlike markets like the U.K.

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RTP Real Time Payments Faster Payments Cross-Border 72

PYMNTS

AUGUST 7, 2019

Vocalink’s infrastructure has underpinned real time payments platforms in countries as far flung as Peru and Saudi Arabia. More recently, Mastercard, with Vocalink, struck a deal with P27 Nordic Payments Platform to provide the Nordic market with a real time and batch payments system. The Use Cases.

Visa 77

Visa Acquirers Real Time Payments ISO 20022 77

PYMNTS

JANUARY 7, 2021

Rather than viewing payments and data as two "parallel tracks," initiatives like the ISO 20022 messaging standard have helped to fuel their coupling. As Thakur noted, the opportunity to consolidate complex systems through treasury and banking integrations is vast. Emerging Ecosystems.

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Cross-Border B2B Payment APIs and Integration ISO 20022 97

PYMNTS

OCTOBER 2, 2019

Large telecoms or utilities benefit from receiving real-time payments on their bills without needing to have payments go through the card networks, he added. The Messaging Factor — And Getting The Message Out. Along with demand for faster payments , the information conveyed in them has significant value.

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C2B Faster Payments Real Time Payments Lockbox 81

Fintech News

DECEMBER 10, 2023

It gathered data from C-level decisionmakers at over 500 banking and non-banking financial institutions across a variety of departments such as fraud, operations, treasury, product, and technical implementation.

FinTech 124

FinTech Cross-Border Cross-Border Payments ISO 20022 124

PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. As for a time frame for launching the new system, Fed officials said in a webcast detailing the particulars that FedNow would debut in 2023 or 2024 and would take a phased approach to implementation.

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Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

FEBRUARY 21, 2019

As noted in FinTech Futures , SIA provides payments across countries including Denmark, Norway and Sweden, and the firm’s RTGS systems are developed by its wholly-owned subsidiary Perago. The site noted that Lynx will replace Canada’s current Large Value Transfer System, and will be based on the global ISO 20022 messaging standard.

Cross-Border 76

Cross-Border Cross-Border Payments Real Time Gross Settlement (RTGS) Rules 76

Fintech Finance

APRIL 17, 2024

Payments Canada and its members, stakeholders, regulators and vendor partners — CGI, IBM, and Interac who will together provide the applications, infrastructure and operations — will deliver a real-time payment system that meets the needs of Canadians.

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ISO 20022 Real Time Payments Participant Payment Message 52

PYMNTS

MARCH 17, 2020

There have been at least some efforts to support an industry-wide transformation, such as with ISO 20022, which is a data-rich messaging format for payments information that can help cut down on transaction errors. The Challenges Of Multi-Channel Payment Innovation.

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Cross-Border Innovation Payment APIs and Integration Cross-Border Payments 91

PYMNTS

NOVEMBER 3, 2020

In this week's roundup of payment rail innovation, PYMNTS finds B2B payments use cases serve as an important driver of adoption, with FinTechs and financial service providers embracing payment rails old and new to enable real-time B2B payments and foreign exchange. OpenPayd Debuts Real-Time FX.

Use Case 56

Use Case B2B Distributed Ledger Technology (DLT) ISO 20022 56

Fintech Finance

FEBRUARY 27, 2024

This partnership prepares financial institutions (FIs) to effectively respond to payments industry changes, such as the evolution of ISO 20022 messaging standards and the launch of the FedNow Service.

Instant Payments 52

Instant Payments Payment Solutions ISO 20022 FedNow 52

PYMNTS

NOVEMBER 20, 2019

Customer-facing markets such as financial services and insurance have greatly benefited from real-time payments, and healthcare could be next. Real-time payments can address these pain points by granting claimants quicker access to funds and providing more precise data regarding insurance payments’ purposes.

Real Time Payments 44

Real Time Payments Electronic Funds Transfer (EFT) ISO 20022 Payer 44

PYMNTS

SEPTEMBER 23, 2019

As businesses continue this shift, it is no longer safe to assume that corporates are not interested in faster payments. Indeed, 55 percent of corporate professionals say real-time payments is their top B2B payments service priority, PYMNTS and American Express note in their latest Securing B2B Payments Report.

B2B 49

B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

FEBRUARY 7, 2017

Bottomline will integrate NCR’s payment processing platform, Authentic, onto its Faster Payments solution, giving smaller banks an easier way to wield this technology for their own clients. NCR Marketing Director Andy Brown told PYMNTS that the evolution of faster and real-time payments in the U.K.

Faster Payments 46

Faster Payments Technology Real Time Payments ISO 20022 46

PYMNTS

AUGUST 16, 2019

Interactions between banks, FIs and businesses could become highly fragmented without such standards. Many companies are choosing to implement ISO 20022 as a common messaging standard to achieve greater interoperability between payment systems, with the system seeing more than 80 implementations in over 40 markets.

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Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

PYMNTS

MAY 6, 2019

Taylor related that Mastercard Bill Pay Exchange, as offered through banks and credit unions, will link to The Clearing House’s (TCH’s) real-time payments infrastructure, tied to technology and infrastructures on offer from Mastercard’s Vocalink.

Visa 57

Visa Payment APIs and Integration ISO 20022 Online and Mobile Banking 57

PYMNTS

MAY 12, 2020

The service is fully automated using the company’s proprietary blockchain platform, the company said, adding that the feature can help support businesses’ own supplier payments and cash flow management as a result of having quicker access to funds. Fed Forms FedNow Community.

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B2B Same Day ACH FedNow Federal Reserve 52

PYMNTS

MAY 3, 2016

“This is perhaps unsurprising,” ACI stated of this conclusion, “given their urgent need to modernize aging legacy systems to operate in an increasingly mobile and real-time payments environment.”. Real-Time Payments A Bust?

ISO 20022 40

ISO 20022 Real Time Payments Payments Non-Bank 40

PYMNTS

OCTOBER 6, 2017

The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions. The platform was built on ISO payment messaging standards, which, according to Fides CEO Andreas Lutz, are “very high and present a lot of challenges for treasury teams.”. “By

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Treasury Treasury Management Message Standards ISOs 57

PYMNTS

SEPTEMBER 7, 2017

To move forward, the Fed said it will support a working group and other collaborative efforts to continue developing a faster payments ecosystem for the nation, and work with industry stakeholders to address gaps and requirements for real-time payments settlement.

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Fed Federal Reserve Cross-Border Payments Cross-Border 49

Evolve Payment

SEPTEMBER 29, 2023

More Instant Peer-to-Peer (P2P) Payments Waiting days for payments to clear will become a thing of the past in 2024. Instant payments will become the norm, enabled by technologies like real-time payment networks and blockchain.

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Industry Trends Contactless Payments ISO 20022 Cross-Border 52