EBizCharge

DECEMBER 3, 2024

Since managing credit card transactions can be complex, understanding how their settlements work is essential to maintaining financial health as consumer spending rises. Credit card settlements involve various processes and parties that ensure transactions are accurately recorded and funds are transferred.

Credit Cards 52

Credit Cards Settlement Finance Issuers 52

The Fintech Times

MAY 18, 2024

Eurosystem , the monetary authority of the eurozone, has been exploring the possible use cases of distributed ledger technology (DLT) to conduct wholesale settlement in central bank money. Initially, 16 private companies will conduct trials involving actual settlement in central bank money.

Central Bank 75

Central Bank Settlement Distributed Ledger Technology (DLT) Interoperability 75

The Fintech Times

AUGUST 28, 2024

Through the project , HKMA explores financial market infrastructure that facilitates seamless interbank settlement of tokenised money through a wCBDC. Having completed building the sandbox, HKMA will use it to facilitate interbank settlement using experimental tokenised money, focusing on transactions involving these tokenised assets.

Interbank Settlement 134

Interbank Settlement CBDC Settlement Use Case 134

Fintech News

NOVEMBER 5, 2024

The project is a collaboration between the Bank for International Settlements (BIS) Innovation Hub and central banks from India, Malaysia, the Philippines, Singapore, and Thailand. The regulator will explore potential connections between its TARGET Instant Payment Settlement system and other fast payment networks.

ISO 20022 111

ISO 20022 Central Bank Cross-Border Payments Settlement 111

Fintech News

MAY 21, 2024

Source; SBI DAH The Future of Digital Assets: CBDCs and Cryptocurrencies Looking ahead, the survey participants anticipate greater adoption of various digital assets over the next three years. Moreover, tokenised securities offer the potential for shorter settlement periods. Institutional investors focus on digital assets.

Settlement 139

Settlement Cryptocurrency Blockchain Digital Currency 139

Fintech News

JULY 14, 2024

Partior, a fintech known for its global unified ledger based interbank rails for real-time clearing and settlement, has announced the first close of an over US$60 million Series B funding round led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group as new investors. Existing shareholders J.P.

Cross-Border 110

Cross-Border Correspondent Bank Multi-Currency Settlement 110

Fintech News

JUNE 4, 2024

The Bank for International Settlements (BIS) has launched Project Rialto to test the potential for improving instant cross-border payments through a combination of a modular foreign exchange (FX) component and wholesale central bank digital currencies (wCBDC).

Cross-Border Payments 98

Cross-Border Payments Cross-Border CBDC Settlement 98

Fintech Finance

APRIL 24, 2024

We will join as a participant bank and as Visa’s new settlement partner for a set of currencies. Our engagement in the Visa B2B Connect network – both as a participant and as a settlement bank – is yet another way we are delivering value add to the broader ecosystem as we support corporates on their payments journey.”

Cross-Border Payments 92

Cross-Border Payments Cross-Border Settlement B2B 92

PYMNTS

FEBRUARY 6, 2020

In a recent conversation with PYMNTS, Transparent Systems Co-Founder and Chief Technology Officer Jeff Kramer remained mum on the particular details of the company’s infrastructure, although the firm described itself as an “on-demand 24/7 settlement” solution that leverages “cryptographically-secured” distributed blockchain networks.

Settlement 67

Settlement B2B Same Day ACH ACH 67

Fintech News

NOVEMBER 27, 2024

The Series B initially secured US$60 million in July 2024, led by Peak XV Partners, with participation from J.P. The bank plans to act as a Euro and US dollar settlement bank on Partior’s platform, aligning with its dbX initiative—a correspondent banking ecosystem launched to optimize financial institution client services.

Cross-Border 114

Cross-Border SARS Multi-Currency Correspondent Bank 114

Finextra

SEPTEMBER 16, 2024

More than 40 private sector financial firms, convened by the Institute of International Finance, will join the Bank for International Settlements and a group of leading central banks in Project Agorá to explore how tokenisation can enhance wholesale cross-border payments.

Participant 59

Participant Cross-Border Payments Cross-Border Central Bank 59

Fintech News

OCTOBER 23, 2024

Indonesia will continue its participation as a special observer. As part of its efforts to link its TARGET Instant Payment Settlement (TIPS) with other fast payment systems, the Eurosystem, the monetary authority of the eurozone, has expressed its intention to join Project Nexus.

Central Bank 128

Central Bank ISO 20022 Cross-Border Payments Cross-Border 128

Fintech News

DECEMBER 11, 2023

The first being the indirect model, where commercial banks manage CBDC wallets and settlements directly on the UDPN, while the central bank handles wholesale settlement between commercial banks and keeps all transaction records. The indirect model featured an on-chain DLT-based solution developed by UDPN engineers.

CBDC 115

CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 115

Fintech News

OCTOBER 29, 2024

By utilising USDC, Thunes aims to reduce capital costs and improve liquidity for its network participants. Settlements made with stablecoins provide exactly these four things. Jeremy Allaire “Partnering with Thunes is an exciting expansion for USDC as a reliable and efficient cross-border payments settlement solution.

Cross-Border Payments 109

Cross-Border Payments Cross-Border Stablecoins Facilitators 109

Tearsheet

FEBRUARY 16, 2024

FedNow attracted 331 participants, while RTP had 460 participants as of December 2023. Market Development at Mastercard, to discuss the extended partnership’s new areas of focus, strategies the RTP network is employing to appeal to a broader range of participants, and the competition with FedNow.

Instant Payments 119

Instant Payments RTP Visa TCH 119

Finextra

APRIL 22, 2024

The implementation of a T+1 settlement cycle in the U.S. is a little over one month away, and market participants continue to prepare for the May 28, 2024, deadline.

Participant 52

Participant Settlement Continuity 52

Fintech News

JUNE 12, 2024

The Bank for International Settlements (BIS) Innovation Hub ‘s Point Zero Forum 2023 roundtable brought together key stakeholders and leaders from both the public and private sectors to discuss opportunities and challenges in cross-border payments.

Cross-Border Payments 120

Cross-Border Payments Cross-Border Interoperability Payments 120

Fintech Finance

NOVEMBER 6, 2024

The collaboration will see Mastercard join Buna’s cross-border payment systems as a direct participant. Buna’s Real-Time Gross Settlement service, with its extended operating hours, and Instant Payments System’s 24/7 availability offer a unique advantage for direct participants.

Cross-Border Payments 97

Cross-Border Payments Visa Cross-Border Multi-Currency 97

The Fintech Times

JUNE 6, 2024

Project mBridge , a collaborative initiative involving multiple central banks and the Bank for International Settlements’ (BIS), h as reached an important development milestone. The platform now invites further international participation and private sector proposals for value-added solutions.

Participant 45

Participant Distributed Ledger Technology (DLT) Cross-Border Payments Cross-Border 45

Fintech News

NOVEMBER 3, 2024

The Bank for International Settlements ( BIS ) Innovation Hub announced that it has “graduated out” of Project mBridge. Project mBridge is a major cross-border payments initiative designed to leverage wholesale central bank digital currencies (CBDCs).

Cross-Border 124

Cross-Border Cross-Border Payments Central Bank Settlement 124

Fintech News

OCTOBER 23, 2024

Australia’s digital money work plan will kickstart with the public launch of Project Acacia, an initiative focusing on assessing the feasibility of new forms of digital money and settlement infrastructure to improve the efficiency, transparency and resilience of wholesale markets.

Central Bank 126

Central Bank CBDC Settlement Treasury 126

The Fintech Times

DECEMBER 6, 2023

RTGS.global, a settlement company focused on enhancing cross-border payments, is celebrating a significant milestone with the successful completion of an inaugural instant settlement cross-border transaction via its global network.

Cross-Border Settlement 59

Cross-Border Settlement Cross-Border Settlement Cross-Border Payments 59

Fintech News

APRIL 23, 2024

In addition to joining the network, Standard Chartered will also serve as a settlement partner for Visa, supporting essential payment functions including settlements and foreign exchange operations.

B2B 111

B2B Cross-Border Payments Cross-Border Payment APIs and Integration 111

Finextra

JUNE 26, 2024

Boerse Stuttgart Group is the only exchange operator in Europe to have successfully applied for the second wave of the European Central Bank's (ECB) EU-wide tests, in which the settlement of blockchain-based financial transactions against central bank money is being explored.

Blockchain 59

Blockchain Participant Central Bank Settlement 59

Finextra

SEPTEMBER 16, 2024

More than 40 private sector financial firms, convened by the Institute of International Finance, will join the Bank for International Settlements and a group of leading central banks in Project Agorá to explore how tokenisation can enhance wholesale cross-border payments.

Participant 52

Participant Cross-Border Payments Cross-Border Central Bank 52

Fintech News

AUGUST 8, 2024

In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. March 2023 marked the start of the migration with a coexistence period with MT messages.

ISO 20022 128

ISO 20022 APACS SWIFT ISOs 128

Fintech Finance

AUGUST 21, 2024

The Bank of Israel has announced the issuance of an identification code to a second global fintech company that has chosen to operate in Israel as a participant in a controlled payment system – Revolut Ltd. These steps will advance competition in the financial system, and will contribute to improvement of service and lowering of costs.

Service Provider 98

Service Provider Participant Payments Settlement 98

Fintech News

JULY 3, 2024

The Bank for International Settlements (BIS) and its partners have revealed the comprehensive blueprint for phase three of Project Nexus, which seeks to address longstanding challenges in international money transfers by leveraging the power of domestic instant payment systems (IPS). The potential impact of this initiative is substantial.

Cross-Border Payments 119

Cross-Border Payments Cross-Border Instant Payments Central Bank 119

Fintech News

APRIL 28, 2024

The Bank for International Settlements (BIS) and the Central Bank of Brazil (BCB) have announced the launch of the fifth G20 TechSprint 2024 initiative. Participants from around the world can enter the competition through the Apix hackathon platform , which supports registration and prototype development.

Finance 118

Finance Central Bank Cross-Border Payments Cross-Border 118

The Fintech Times

NOVEMBER 4, 2024

We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenised capital markets products, and scale tokenised markets on an industry-wide basis.”

Authorization 83

Authorization CBDC Multi-Currency Settlement 83

Fintech Finance

OCTOBER 23, 2024

As part of the partnership, Emirates NBD will join the Partior network, becoming the first regional and UAE Dirham, Saudi Riyal and Indian Rupee settlement bank on the platform. Launched in 2021, Partior is backed by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV.

Cross-Border 94

Cross-Border Cross-Border Payments Settlement Real Time Payments 94

Fintech News

OCTOBER 6, 2024

Banks in North America, Europe, and Asia will participate, using Swift ’s platform to conduct transactions involving both digital assets and traditional currencies. Additionally, Swift is exploring integration with emerging bank-led networks such as the US Regulated Settlement Network.

SWIFT 103

SWIFT Transactions Settlement Use Case 103

Fintech News

MARCH 25, 2024

Over the last six months, 38 global institutions participated in Swift’s CBDC sandbox, marking it as one of the most extensive CBDC experiments to date. Specifically, in digital trade, the experiments proved the capability for interoperability among diverse digital networks, facilitating atomic trade payments.

CBDC 110

CBDC SWIFT Interoperability Settlement 110

Payments Dive

MAY 17, 2024

The Bank for International Settlements is seeking private sector participation in a smart-contract project designed by seven central banks to improve cross-border payments.

Cross-Border Payments 78

Cross-Border Payments Cross-Border Central Bank Settlement 78

Finextra

DECEMBER 14, 2023

The European Central Bank is inviting expressions of interest from financial market stakeholders in participating in trials of new technologies for wholesale central bank money settlement.

Central Bank 85

Central Bank Settlement Participant Technology 85

Fintech News

JANUARY 15, 2024

However, the challenge arises when accommodating various payment schemes, as each merchant must be independently set up with their respective settlements and statements for income reconciliations. Emphasising interoperability, scheme participants are encouraged to develop service offerings focused on both merchants and consumers.

Interoperability 118

Interoperability Cross-Border Payments Financial Inclusion 118

The Fintech Times

APRIL 17, 2024

Key participants in the UK initiative include Barclays, Citi, HSBC, Lloyds Banking Group, Mastercard, NatWest, Nationwide, Santander, Standard Chartered, Virgin Money and Visa. Supported by EY and Linklaters , the technological backbone of this endeavour comprises R3, Quant, DXC Technology (DXC) and Coadjute.

Payment APIs and Integration 137

Payment APIs and Integration Blockchain Finance Digital Payments 137