PYMNTS

AUGUST 28, 2019

While financial institutions upgraded their technology to handle electronic batch payments, it was corporates’ systems that prevented quicker adoption. The process added friction not only to payment processes, said Cooley, but also in terms of reconciliation and the ability to access payment data.

ISO 20022 52

ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

SEPTEMBER 11, 2019

In an interview with PYMNTS , Citi’s Global Head of Payments and Receivables Manish Kohli explained how APIs that pre-validate payments data can reduce errors and costs while improving speed.

Cross-Border Payments 76

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

PYMNTS

MARCH 1, 2019

According to a report , real-time payments schemes that use global messaging standards could incur new risks. These messaging standards attach more data to the transactions. The value of online banking fraud loss nearly tripled from 2007 to 2009 after the U.K. launched FPS in 2008.

Faster Payments 53

Faster Payments Real Time Payments Security Message Standards 53

PYMNTS

NOVEMBER 18, 2020

And because RTP transactions are cleared and settled in real time, added Ledford, this also takes away the credit risk associated with other methods of B2B payments. It's helping to both speed up payments and create more confidence and certainty in the B2B payment process," he said.

RTP 82

RTP Use Case Real Time Payments ISO 20022 82

PYMNTS

JANUARY 25, 2019

However, the current payments environment in the U.S. is fragmented, Richardson said, and faster payment systems can remove some of the headaches of managing payments data and reconciliation. He pointed to RTP — the only real-time payments rail currently available in the U.S. — as an example.

Real Time Payments 67

Real Time Payments Federal Reserve RTP TCH 67

PYMNTS

SEPTEMBER 13, 2018

This embrace comes as corporates are just starting to work with faster payments. Data from NACHA – The Electronic Payments Association shows that roughly 6 percent of the two million same-day ACH transactions made in the 11 days since launch were B2B transactions, signaling room for growth.

Cross-Border Payments 40

Cross-Border Payments Cross-Border Risk Same Day ACH 40

PYMNTS

FEBRUARY 6, 2020

This week’s look at the latest in Open Banking and bank-FinTech collaboration initiatives explores how service providers throughout the globe are unlocking data and embracing API integrations to elevate financial services — with a particular focus on small businesses (SMBs). Nacha Unlocks Payments Data.

Payments Data 73

Payments Data Payment APIs and Integration Credit Union NACHA 73

PYMNTS

SEPTEMBER 10, 2019

Solutions like Visa B2B Connect are able to address both the need for ease-of-use and access to data through measures like adoption of the ISO 20022 messaging standard, which enables seamless exchange of payment data.

B2B 59

B2B Cross-Border Payments ISO 20022 59

PYMNTS

JANUARY 26, 2017

Real-time payments and reconciliation, the company added, could be a major boost to corporate cash management efforts, too. Further, blockchain, Finlync said, negates the need for participants to align with what the company described as “complex” payments messaging standards like ISO.

Blockchain 57

Blockchain Cross-Border Payments Cross-Border B2B 57

PYMNTS

JUNE 7, 2018

’s payments messaging operations through the planned adoption of the ISO 20022 messaging standard, the bank announced Wednesday (June 6). The NPSO, which operates Faster Payments and BACS, is working with the central bank to develop a “Common U.K. The Bank of England is streamlining the U.K.’s

ISO 20022 46

ISO 20022 ISOs Real Time Gross Settlement (RTGS) Message Standards 46

PYMNTS

MARCH 16, 2016

When analysts from SWIFT and its ISO 20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. in its faster payments initiatives.

ISO 20022 40

ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

MAY 12, 2020

He recommends digitizing key components of paper check payments, including the automatic capture of payment data and integration with firms’ enterprise resource planning (ERP) and other back-office systems. They’re foundational, and a lot of people still like using them,” he said.

B2B 52

B2B Same Day ACH FedNow Federal Reserve 52