PYMNTS

FEBRUARY 15, 2017

Saxo’s clients set up a master account linked to the Banking Circle platform, then issue a master IBAN. .” He added that financial service providers can gain a “competitive edge” over other players that provide FX and global payment services.

IBAN 40

IBAN Global Payments Cross-Border Cross-Border Payments 40

PYMNTS

JUNE 7, 2018

“Because of the multicurrency aspect of our account, it also [means] the artist could … receive [her] revenue in the currency of the area [she is] in.”. These clients can then make individual or batch payments from each sub-account. They can manage multiple accounts to one interface,” Jamieson said.

Multi-Currency 46

Multi-Currency Master Account Reconciliation Faster Payments 46

PYMNTS

APRIL 19, 2018

According to the company’s announcement, corporate customers of the company are provided with a master account, with the ability to open sub-accounts in different currencies and regions. “With CenttripNow and other innovative products and services, we are set to be at the forefront of this movement,” Jamieson said.

Real Time Payments 40

Real Time Payments Cross-Border Payments Multi-Currency Cross-Border 40

PYMNTS

SEPTEMBER 21, 2018

. “A typical real estate customer will have multiple banking relationships, hundreds of checking accounts, multiple integration packages and they want to provide multiple payment types to suppliers.”

Checks 53

Checks Payments Commercial Card Master Account 53

The Fintech Times

JULY 24, 2024

Both offer similar services, but FedNow participants can transfer funds from their Federal Reserve master account, which means they have an extra pool of resources for liquidity management. “Banks have a difficult choice between TCH’s RTP network and the new kid on the block, FedNow.

FedNow 59

FedNow Instant Payments RTP Federal Reserve 59

PYMNTS

JUNE 1, 2020

Edwards termed real-time payments “an ACH killer … it’s moving today’s batch process of banks exchanging files with each other to a Federal Reserve centric master account to an ‘instant’ way for banks to do it.”. Speed of payments changes the fraud equation, and the balance that needs striking.

Cross-Border 69

Cross-Border Payments Privacy Issuers 69

Exact Payments

NOVEMBER 8, 2023

Additionally, PayFacs can offer merchants a much simpler account onboarding process. When PayFacs utilize automated underwriting tools, they are able to instantly onboard clients under their master account through a convenient online onboarding process.

Facilitators 52

Facilitators ISVS ISOs Payment APIs and Integration 52

Exact Payments

OCTOBER 30, 2023

Differentiator 1: Payment Aggregation The most crucial distinguishing factor of PayFacs is that they operate as merchants themselves and register for processing accounts directly with an acquiring bank. They are then able to onboard and aggregate sub-merchant accounts under their master account.

Facilitators 52

Facilitators Processors Payment APIs and Integration ISOs 52

EBizCharge

NOVEMBER 12, 2024

In contrast, PayFacs streamline the process by directly allowing merchants to sign up for payment processing services without needing an individual merchant account from an acquiring bank. PayFacs aggregate multiple merchants under a single master account, making the application process faster and simpler.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52

PYMNTS

DECEMBER 7, 2020

In terms of mechanics, these companies would have to maintain master accounts at the Federal Reserve and must maintain segregated accounts with the Fed, with reserves fully collateralized and convertible into dollars on demand.

Stablecoins 76

Stablecoins Regulations Federal Reserve Fed 76

PYMNTS

MARCH 14, 2019

And while Google and Facebook can act as the auto-repositories for all passwords —solving part of the problem — it does create the small issue that if someone should gain access to or control of those master accounts, they have “the keys to the kingdom,” according to Maloney.

Authentication 59

Authentication Master Account Push-to-Card Use Case 59

The Payments Association

MARCH 18, 2025

One notable change is the removal of “reputational risk” as a consideration when evaluating applications for master accounts. Federal Reserve Chair Powell confirmed that regional reserve banks will no longer take reputational factors into account when deciding whether to grant access.

Federal Reserve 88

Federal Reserve Stablecoins Fed Settlement 88

The Payments Association

JANUARY 31, 2025

’ against digital asset companies (see below, Other Key Developments in Crypto ) and the FRBs refusal to permit Custodia Bank to open a master account. Notably, US banking regulators (e.g.,

Stablecoins 88

Stablecoins Office of the Comptroller of the Currency Treasury Regulations 88