Payments Source

DECEMBER 2, 2020

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

Cross-Border Payments 116

Cross-Border Payments SWIFT Cross-Border Message Standards 116

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

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

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

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

SEPTEMBER 23, 2019

The Payments Market Practice Group asked the Federal Reserve to reassess its approach to the project, which involves a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service. central bank said in a press release on Monday, Sept. The industry group prefers same-day implementation. .

ISO 20022 76

ISO 20022 Federal Reserve ISOs FedWire 76

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

PYMNTS

MARCH 21, 2017

For a few years the corporate banking space has been discussing the potential for ISO 20022 to streamline payments, with industry forces like SWIFT and SEPA promoting its adoption. But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need.

ISO 20022 77

ISO 20022 ISOs B2B Message Standards 77

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.

RTP 72

RTP Real Time Payments Faster Payments Cross-Border 72

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.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

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.

RTP 82

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.

Faster Payments 43

Faster Payments ISO 8583 ISO 20022 Message Standards 43

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

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

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.

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

PYMNTS

SEPTEMBER 22, 2016

“Five months after the start of the development project and less than two months after the publication of the draft specifications for our instant payment service, we are happy to see that the community of interested PSPs has already grown to close to 80 institutions,” said Hays Littlejohn, CEO of EBA CLEARING, in the press release.

Instant Payments 55

Instant Payments Real Time Payments Message Standards Payments 55

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.

ISO 20022 52

ISO 20022 Real Time Payments B2B ISOs 52

Fintech News

OCTOBER 15, 2024

Keeping pace with changing market dynamics and accelerating time to market for quickly launching new digital products are essential to remaining competitive. The benefits of ISO 20022, including improved communication between banks and payment systems, are prompting even those not currently using it to plan upgrades.

ISO 20022 111

ISO 20022 ISOs Payments Federal Reserve 111

PYMNTS

MARCH 1, 2019

It’s not just direct participants who are taking advantage of these payments schemes — financial services providers such as Fiserv are also working to extend access by offering FIs real-time payments connectivity and processing solutions. would consider switching to banks that offer real-time payments capabilities.

Faster Payments 53

Faster Payments Real Time Payments Security Message Standards 53

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.

Instant Payments 75

Instant Payments Fed FedNow Interbank Settlement 75

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).

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

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.

Cross-Border 97

Cross-Border B2B Payment APIs and Integration ISO 20022 97

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

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

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

Treasury 57

Treasury Treasury Management Message Standards ISOs 57

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 122

FinTech Cross-Border Cross-Border Payments Deepfake 122

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

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 15, 2019

In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . Setting aside resources for improvements and adoption is not the only potential challenge, either.

ISO 20022 58

ISO 20022 ISOs Interoperability Message Standards 58

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.

ISO 20022 52

ISO 20022 Real Time Payments Participant Payment Message 52

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

MARCH 17, 2020

As Caldeira told PYMNTS, “You need to integrate all these networks together to exchange the messages … nothing else can happen without industry-level agreements.”. However, even with messaging standardization undertaken at country or industry level, there is still a risk that cross-network integration gets done on a peer-to-peer basis.

Cross-Border 91

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

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

The Payments Association

FEBRUARY 14, 2025

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. The November deadline marks a crucial milestone, after which many European payment flows must conform to the new standard.

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ISO 20022 Payment APIs and Integration ISOs Central Bank 100

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.

B2B 52

B2B Same Day ACH FedNow Federal Reserve 52

PYMNTS

JULY 28, 2016

This “standard for standards” is designed to set the tone for a global financial industry message scheme, but unfortunately it is often misunderstood. The standard isn’t related to any one organization or segment, it was created by the International Organization for Standardization for many global transactions.

ISO 20022 40

ISO 20022 ISOs NACHA ACH 40