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Today, The Clearing House and BNY (NYSE: BK), announced the successful completion of the largest instant payment in U.S. history and the first-ever payment on the RTP network exceeding $1 million, following the recent increase in the networks transaction limit.
Global payments company Thunes has introduced ‘Thunes Business Payments’ , a new service aimed at helping enterprises, merchants, banks, and mobile wallet providers streamline international business transactions. The launch is targeted at members of Thunes’ Direct Global Network.
In pursuit of instant cash management and visibility, treasurers' modernization efforts have been underway for some time, with the global coronavirus crisis greatly accelerating those initiatives as liquiditymanagement has become even more vital to the enterprise's overall health. But they need to be planned for.".
DBS has announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquiditymanagement solution, in collaboration with Ant International. DBS’ permissioned blockchain is Ethereum virtual machine (EVM)-compatible and is integrated with its core payments engine.
The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2. The demand for secure, fast, and modern payment solutions has been pressing.
This solution leverages blockchain technology, including advanced encryption and AI, to enhance the efficiency and transparency of fund movements for improved global liquiditymanagement. This achievement builds on a recent successful test settlement of a Hong Kong dollar (HKD)-denominated transaction between the two companies.
The rise of the coronavirus has spotlighted the need for corporate treasurers to make real-time decisions about cash management. You’ve got to adhere to currency cut-off times. You’ve got to think about potentially if there’s cross-bank relationships in the mix, or even if you need to do cross-funding across currencies,” said Schwartz.
With a series of organisational and strategic upgrades in 2024, Ant International , a leading global digital payment and financial technology provider, reported robust growth over the past year among all its four pillar businesses, Alipay+ , Antom , WorldFirst and Embedded Finance. connecting over 90 million merchants in 66 markets to 1.6
By integrating with RTGS.global’s instant settlement infrastructure, TransferMate will deliver seamless, real-time international payments for RTGS.global’s business customers, reducing reliance on traditional banking intermediaries and eliminating the risk associated with moving money cross-border.
The Somalia Payment Switch (SPS1) has successfully launched the country’s first ever Instant Payment System with QR payments support powered by BPC’s next generation SmartVista platform, a global leader in payment solutions2. The demand for secure, fast, and modern payment solutions has been pressing.
Following a new partnership between Centiglobe , the cross-border payment infrastructure solutions provider, and Mastercard Move , Mastercard s portfolio of global money movement solutions, customers using Centiglobe’s blockchain-based payments platform will now be able to use Mastercard Move through a single integration.
The Somalian financial ecosystem has taken its next step in the digital world as the Central Bank of Somalia’s (CBS) payments initiative, the Somalia Payment Switch (SPS), has successfully launched the country’s first instant payment system.
Decoding the FCA's safeguarding reforms: Practical steps for payments and E-money firms January 3 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The FCA’s proposed safeguarding reforms for payments and e-money firms, aiming to enhance consumer protection and operational compliance.
Centiglobe , a leading fintech company specializing in cross-border payment infrastructure solutions, today announces a new collaboration with Mastercard Move – Mastercard’s portfolio of global money movement solutions. Unlike traditional cross-border payment models, Centiglobe does not charge per transaction.
Nium, a global payments infrastructure provider, announced a partnership with Partior , a blockchain-based clearing and settlement network, at the Singapore Fintech Festival 2024. The partnership allows financial institutions to connect with Nium for faster, more transparent cross-border payments.
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Some banks have chosen to develop their own in-house payment processing systems, delivering end-to-end services directly to their customers. In this article, we’ll explore how Canada’s major banks approach payment processing, highlighting the strategies they use to serve businesses of all sizes.
Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today announced the release of its latest publication, Operational Considerations for Receiving Instant Payments.
Morgan Asset Management has teamed with Hazeltree , which provides cloud-based treasury solutions, to provide a new liquiditymanagement solution to help clients streamline their complex financial needs, according to a press release.
Cross-border payments are becoming increasingly important to international economies. The G20 roadmap for enhanced cross-border payments aims to improve the speed, access, transparency, and cost of international payments by 2030.
Ondo Finance announced today that it will be the first provider to bring real-world assets (RWA) to the Mastercard Multi-Token Network (MTN), a digital network connecting financial institutions with businesses to improve cross-border payment experiences.
PCBB and Finzly , two leading innovators in the financial payments industry, have formed a strategic partnership to deliver enhanced international payment services to Finzly’s customers. Finzly equips financial institutions with speed and agility to transform their payment operations through its award-winning Finzly BankOS platform.
Visa bolsters Asia Pacific product suite Payments giant Visa showcased a range of new products and solutions at Singapore Fintech Festival, revealing plans to roll them out across Asia Pacific. These include: Visa Flexible Credential – This enables a single card product to toggle between payment methods.
It would be difficult to pick a single reason why payments modernization is currently accelerating. Modernization is also accelerating because the pandemic and consumer desires to maintain social distance are increasing the need for payments’ digital transformation. A Seamless Future.
The new services allow for 24/7 real-time settlement of payments and utilise smart contracts to increase security and transparency. These tokens are designed to streamline liquiditymanagement within companies operating across multiple markets, rather than just cross-border transactions.
The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). KEPSS, which is Kenya’s Real-Time Gross Settlement (RTGS) system, is operated by CBK to process large-value and time-critical payments.
Elevating cash and liquiditymanagement with better c ontrol, v isibility, and u sability The latest Nomentia Cash Management 2024.11 release brings a range of upgrades designed to increase control, visibility, and efficiency across cash management processes.
Banco Santander , Lloyds Banking Group , and UBS have successfully completed the first uncleared bilateral margin payments using a digital representation of central bank funds on the Sterling Fnality Payment System (£FnPS). This use case is expected to ultimately enable significant balance sheet benefits for banks.
For AccountsIQ, the latest embrace of open banking comes in the form of a collaboration with TransferMate , which has now integrated cross-border payments capabilities directly within AccountsIQ’s accounts payable portal. But there are additional benefits to an API integration for cross-border payments , he noted.
Payment Rails is making its official step into the cross-border payments market through the launch of its application program interface (API) and payment platform, the company said Thursday (Dec. Payments Rails is rewiring how business payments are sent around the world,” said the company’s co-founder and CEO Tim Nixon.
Today, Ripple , the leader in enterprise blockchain and crypto solutions, announced a new partnership with Clear Junction , the global leader in cross-border payments solutions for regulated institutions. The post Ripple Partners With Clear Junction to Enhance UK and EU Cross-Border Payments appeared first on Fintech Finance.
DBS has initiated the pilot of the “DBS Treasury Tokens”, a blockchain-based solution designed for next-generation treasury and liquiditymanagement, in collaboration with Ant International.
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.
BVNK , a stablecoin payment infrastructure provider, is joining forces with First Digital , the group behind First Digital USD, in a move to bolster the adoption of the USD-backed stablecoin within the crypto ecosystem. “FDUSD was built to provide a fluid, dependable, universal digital dollar tailored for this fast-moving market. .”
Mastercard recently expanded collaboration with The Clearing House (TCH), with the shared goal of propelling the adoption of instant payments. This extended partnership will focus on integrating additional instant payment use cases across a range of payment flows for consumers, businesses, and governments.
In the Asia-Pacific (APAC) region, the economic growth narrative is interwoven with technological innovation, propelling the B2B payments market into new realms of possibility. These diverse payment modalities symbolise businesses’ dynamic strategies to navigate the varied financial terrains across the Asia-Pacific region.
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Buyers, too, are eager for change and need to adopt accounts payable (AP) methods that are easily managed by employees working from home. Frictions like these are pushing more businesses to rethink their legacy approaches to business-to-business (B2B) payments and adopting various digital options for sending money. About The Report.
RTGS.global , the next generation settlement company revolutionising cross-border payments, has today announced the launch of a unique solution for Payment Service Providers (PSPs) that will enable them to offer cheaper and faster international payments to their retail and corporate customers.
Volante Technologies , the global leader in Payments as a Service (PaaS) , is proud to announce a strategic partnership with Standard Bank , Africa’s biggest bank by assets, to modernise payment infrastructure across the African continent.
These services will include: Global bank accounts for Wirex: Supporting the company’s global expansion by optimizing treasury operations and enabling more seamless management of fiat and digital currencies.
The European Union’s leading bank, BNP Paribas and Ant International , a digital payment and financial technology leader, have formed a strategic partnership to enhance cross-border payment solutions for merchants and consumers in Europe.
The Financial Technology Association (FTA) today announced that Banking Circle Group , a banking and payments leader for the new economy, has joined the association as its newest member. Banking Circle Group offers cross-border payments, accounts, and liquiditymanagement to meet companies’ global financial needs.
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