Fintech News

APRIL 18, 2024

This license allows Brankas to offer enhanced transparency in payment transactions, providing businesses and their customers with real-time visibility into account balances during transactions.

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Security Embedded Finance Debit Card Reconciliation 107

PYMNTS

OCTOBER 9, 2020

The Federal Reserve is collaborating with seven central banks and the Bank for International Settlements (BIS) to hammer out a framework for digital currency. . The Fed also launched an instant payment initiative in August.

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Digital Currency Central Bank Fed Federal Reserve 104

PYMNTS

SEPTEMBER 6, 2018

The digital asset facilitates the trade, and supplies important settlement instructions. By way of illustration, the company gave a scenario: “Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital assets as the bridge asset between any two fiat currencies.

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SWIFT Payment Initiation Caps Cross-Border Payments 40

The Fintech Times

APRIL 26, 2024

These capabilities help meet the needs of corporates of all sizes that are actively looking at ways to achieve quicker, more secure, and more efficient cross-border payments. The Bank will also act as one of Visa’s settlement partners within the network. It does so by facilitating seamless payment and auto reconciliation.

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Cross-Border Payments Cross-Border B2B Settlement 59

The Fintech Times

JANUARY 28, 2025

Secure, consent-based data-sharing and real-time account-to-account payment initiation redefine the art of the possible. For example, take a small merchant in Latin America who might deal in cash almost exclusively because card payments are expensive and settlement takes too long.

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Service Provider FinTech Underserved Innovation 59

Fintech Finance

OCTOBER 17, 2024

It marks a significant advancement in account-to-account payment solutions, offering businesses a fully integrated payment experience with the Worldline brand at the forefront to build trust towards payers.

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Accounts Cross-Border Payer Payments 96

PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink eCommerce and trading platforms with the SWIFT gpi payment service.”.

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SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 60

Fintech Finance

OCTOBER 21, 2024

Cross-border payments initiated via Swift can be completed on Nium’s network, resulting in faster settlement, end-to-end transparency, and full traceability for most popular corridors. For global businesses, navigating disparate financial systems and message formats can be a barrier to market expansion.

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Real Time Payments SWIFT Payment Networks Cross-Border Payments 95

PYMNTS

AUGUST 21, 2020

As many as 80 percent of the 66 central banks polled by the Bank of International Settlements said they were at some stage of CBDC development. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept. Interoperability Is Key. To get there, interoperability is key, said Cunha.

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PYMNTS

SEPTEMBER 21, 2016

In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S. What’s Under The Faster Payments Umbrella?

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Faster Payments Same Day ACH ACH ACH Network 76

PYMNTS

JULY 22, 2020

While corporate treasurers will be faced with a new paradigm for managing cash, the improved clearing and settlement can lessen the burden of manual intervention and accelerate the realization of the value of real-time payment adoption. Exploring Value. In the U.S., adoption remains muted compared to other markets like the U.K.

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Real Time Payments FedNow Payments Faster Payments 90

Fintech Finance

MARCH 13, 2025

By offering an easy alternative to both card payments and manual bank transfers, Atoa addresses key inefficiencies in the payments ecosystem. Unlike card payments, which come with high fees and slow settlement times, Atoa provides businesses with instant access to funds at a fraction of the cost.

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Payments Institute Security Payment APIs and Integration Settlement 66

Stax

NOVEMBER 21, 2024

We have broken down the process into three key steps below: Payment initiation This first step is triggered when your customer pays for your goods or services using a credit card. It serves as a link between your website and your payment processor.

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Credit Cards Small Business Process Credit Card Payment Processing 88

PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink ecommerce and trading platforms with the SWIFT gpi payment service.”.

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SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 46

PYMNTS

SEPTEMBER 26, 2016

Same Day ACH is now a reality and, with much fanfare, represents the first ubiquitous faster payments initiative in the United States without an attendant regulatory mandate. But as Karen Webster noted in the latest installment of Topic TBD, even as faster payments takes a step closer to reality in the U.S.,

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Same Day ACH Faster Payments Ubiquitous ACH 71

Stax

MARCH 11, 2025

Now that we have established all the players and platforms involved in the online card payment process, here is a high-level breakdown of the steps involved in the transfer of the funds from your customers bank account to your business bank account.

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Online Payment Processing Process Payment Gateways Online and Mobile Banking 88

PYMNTS

NOVEMBER 2, 2016

Today’s consumers increasingly expect payments to be processed quicker than ever before, and insurance companies are turning to newly introduced faster payment initiatives, such as Same Day ACH, to accommodate the demand. To download the November edition of the PYMNTS.com Faster Payments Tracker™ , click the button below.

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Faster Payments Same Day ACH NACHA Payments 74

PYMNTS

SEPTEMBER 19, 2018

“FPS brings convenience and saves time for consumers by enabling payments to be made anytime, anywhere, and contributes to the efficiency of businesses by making real-time settlement possible. Other businesses linked to the service include Citibank , Standard Chartered , Bank of China Hong Kong and 16 other FIs.

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Real Time Payments Faster Payments P2P Payments 60

PYMNTS

SEPTEMBER 27, 2018

Leading consumer payment conglomerates like WeChat Pay and Alipay are bracing for FPS to enhance their peer-to-peer (P2P) payment capabilities, but the faster payments initiative is also expected to affect corporate payments. Transfer amounts can be as high as HK$1 million, reports said.

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Faster Payments Funds Transfer Payments Payer 65

PYMNTS

OCTOBER 17, 2018

According to reports, there are an estimated 2 million companies with a settlement account at Sberbank. Last year, Sberbank agreed to invest more than $500 million in the Yandex.Market eCommerce solution to develop a payment solution and introduce new features on the platform.

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B2B SWIFT Payments Instant Payments 57

PYMNTS

APRIL 9, 2018

SWIFT ’s global payments initiative (gpi) service has a new bank on board. Reports on Friday (April 6) in WebIndia123 said ICICI Bank is the first in India to join and roll out the global payments service.

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SWIFT Cross-Border Payments Cross-Border Real Time Payments 54

PYMNTS

AUGUST 12, 2020

The solution is based on open banking wielding its payment initiation service, enabling Bottomline to use the U.K.’s ’s Faster Payments scheme. Pay Direct sees a payer initiate a payment from within a bank application integrated into a business’ own digital platform.

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Small Business Push-to-Card Credit Union Payer 77

PYMNTS

OCTOBER 10, 2016

23, the industry welcomed the rollout of ubiquitous faster payments to every consumer and business in the U.S. NACHA’s launch of Same Day ACH ushered in three settlement windows, enabling ACH payments to be received same day. via all banks and credit unions.

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PYMNTS

AUGUST 8, 2019

Keeping Checks In B2B Payments. The impact of the Federal Reserve’ s faster payments initiative puts an interesting spin on the nation’s payments innovation efforts overall. “It’s costly because people run overdrafts or take out short-term loans, and it’s economically inefficient.”.

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FedNow Checks B2B Federal Reserve 66

PYMNTS

JANUARY 10, 2017

According to reports , Axis Bank, the nation’s third-largest bank, revealed it will use the blockchain-based payment network of Ripple to facilitate cross-border transactions. Reports noted that the move means Axis Bank can provide real-time settlement of those payments. “We

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Cross-Border Cross-Border Payments Blockchain Payments 44

PYMNTS

NOVEMBER 3, 2016

Today’s consumers increasingly expect payments to be processed quicker than ever before, and insurance companies are turning to newly introduced faster payment initiatives, such as Same Day ACH, to accommodate the demand. It’s known but not understood.

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Faster Payments Same Day ACH ACH Payments 72

PYMNTS

AUGUST 10, 2020

Taking a holistic view but making incremental changes is allowing organizations to progressively modernize their payment services. Everything from payment initiation to clearing and settlement is being impacted by advancements in channels, messaging protocols and networks to support the rapidly growing digital economy,” Davis said.

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Consumer Payments On-Demand Real Time Payments 56

PYMNTS

AUGUST 13, 2019

The faster payments landscape is changing rapidly, most recently with the U.S. Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow.

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On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

NOVEMBER 7, 2016

.” Todd Aadland, VP of industry relations at the Fed, and Connie Theien, the Fed’s SVP and payments security strategy leader, offered PYMNTS more insight into how the Federal Reserve will tackle the issue of payments security, especially as faster payments initiatives from the Fed and other players change the game.

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Fed Secure Payments Task Force Security Federal Reserve 77

The Payments Association

OCTOBER 4, 2024

Globalisation and cross-border payments As commerce becomes increasingly global, the demand for seamless cross-border payments is growing. However, international transactions come with their own set of challenges, including fluctuating exchange rates, varying regulations, and complex settlement processes.

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Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

PYMNTS

OCTOBER 6, 2016

” When PYMNTS spoke to SWIFT about some of the criticism it’s faced over gpi, Head of Payments Initiatives for the Americas and U.K. ” In a blog post , Ripple targeted gpi as an initiative that fails to truly deliver the level of innovation it argued is necessary for industry stakeholders today.

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SWIFT Global Payments Innovation Cross-Border 75

Segpay

JUNE 25, 2024

Transaction Settlement : The PSP or intermediary ensures that the funds are settled between the customer’s and merchant’s banks, typically through the banking system’s clearing and settlement processes. Faster Settlement : Pay by Bank transactions often offer real-time or near-real-time settlement.

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Online and Mobile Banking Payments Settlement Transactions 52

PYMNTS

MARCH 28, 2016

China has received some criticism and skepticism over its cross-border payments initiative, spearheaded as CIPS — the Cross-Border Inter-Bank Payments System. Analysts point out that the payments system operates just 11 hours a day and only out of Shanghai. and fees associated with payments using CIPS are unclear.

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SWIFT Cross-Border Cross-Border Payments Payments 40

Fintech Finance

APRIL 15, 2024

Leveraging the latest technology and security standards, SBP Instant Payments ensures that organizations can scale their business with no interruptions to their customers, and adapt to evolving payments landscape defined by the European Payments Initiative (EPI), Request-to-Pay (RTP), One-Leg Out Instant Credit Transfer (OCT Inst), and more.

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Instant Payments Payment Solutions Transactions Payment APIs and Integration 52

PYMNTS

JANUARY 21, 2019

FIN also recognizes that getting the Fed’s interoperable network up and running will take some time, so in the interim its members would like to have direct access to the Fed’s national payments settlement system.

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Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

FEBRUARY 21, 2018

It’s surprisingly common for the information settlement mechanism like SWIFT to be on a separate ledger from the payment settlement mechanism, which is the system more likely to be scrutinized by the bank’s internal controls, as well as the various audits, including inspection by regulators.”. “In

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Government Governance Blockchain Central Bank 52

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., I think the U.S.

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Real Time Payments ISO 20022 TCH ACH 46