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This week’s round-up of the latest innovations in payment rails for B2B payments shows a key focus on real-time transactions and embrace of emerging, faster payment rails. Volante Explores the Real-Time B2B Value Prop.
Demand is also heating up for real-timegrosssettlement (RTGS) systems. The governor of the Federal Reserve is pushing conversations on getting an RTGS system in the U.S., By September of this year, 40 such rails were live, with 16 more expected to launch by early 2020. Faster Payments.
That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. Currently, access to the Fed’s Real-TimeGrossSettlement (RTGS) system is limited to financial institutions that hold deposits.
Faster payments solutions must meet a variety of demands. After two decades of tweaking and updating its existing Real-TimeGrossSettlement (RTGS) system, Hong Kong determined it needed a new rail. And consumers are at risk of abandoning their purchases if they can’t pay quickly and with minimal hassle.
By 1990, many countries had real-timegrosssettlement (RTGS) systems in place to rapidly clear and settle high-value transactions. But as countries continue to demand more from their RTGS offerings, many are realizing that their aging services no longer meet their needs.
It distils complex legislative changes into strategic insights, outlining whats in force, whats imminent, and what demands forward planning. Legal risks, operational exposures, and governance expectations are highlighted throughout, alongside next steps to support timely action. What’s next?
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