The Fintech Times

APRIL 18, 2024

After two major delays, Payments Canada , an organisation that operates a payment clearing and settlement system in Canada, has resumed the development of the Real-Time Rail (RTR) payments system. The new system will allow payments to be sent and received as well as cleared and settled in real-time 24/7, 365 days a year.

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Payments Real Time Payments Settlement Economy 59

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

APRIL 17, 2024

The Real-Time Rail is a complex, large-scale, multi-year infrastructure program that includes two key technical components: the build of the Real-Time Rail exchange component provided by Interac, which was completed in June 2023 and will allow for the exchange of payment messages in real-time.

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ISO 20022 Real Time Payments Participant Payment Message 52

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”

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ISO 20022 ISOs SWIFT Cross-Border 76

The Fintech Times

MAY 9, 2024

Support for broader adoption follows strong international advocacy for the use of the LEI in ISO 20022 payment messages to facilitate key cross-border payment use cases and to fight global financial crime.

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ISO 20022 Cross-Border Payments Cross-Border Financial Crimes 69

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

APRIL 9, 2020

Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. ” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions. ”

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Payment APIs and Integration Central Bank SWIFT FinTech 83

PYMNTS

JUNE 24, 2019

Payments messaging firm SWIFT will allow blockchain companies to connect into its global payments innovation (gpi) platform, SWIFT said in its latest report on the future of payments.

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SWIFT Cross-Border Payments Blockchain Cross-Border 43

PYMNTS

APRIL 23, 2018

Payments messaging company SWIFT is hoping to launch real-time payments services in the Asia Pacific region, according to Verdict reports on Friday (April 20). The partners aim to launch the new service in phases, first focusing on banks’ settlement of payments in real-time using gpi.

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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.

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Real Time Payments FedNow Payments Faster Payments 90

PYMNTS

SEPTEMBER 19, 2016

Reuters had previously reported last week that such a task force would form following the $81 million bank heist from Bangladesh Bank , a crime that infiltrated the SWIFT payments messaging network. Coeure also serves on the board of the European Central Bank, according to reports.

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Cybersecurity Global Payments Central Bank Cross-Border Payments 78

PYMNTS

OCTOBER 17, 2018

Businesses can also integrate a digital button on their own website to facilitate payment acceptance using the Sberbank Business Online platform. The B2B payments platform is designed to accelerate payments between legal entities. Sberbank has been working with Yandex for several years to develop a range of solutions.

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B2B SWIFT Payments Instant Payments 57

PYMNTS

FEBRUARY 13, 2018

Last year, Oracle launched a new API (application program interface) tool , its Oracle Banking Payments API service, for financial institutions (FIs). The solution enables banks and other FIs to leverage the ISO 20022 payments messaging standard and enhance straight-through processing and real-time settlement.

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ISO 20022 Message Standards ISOs Payment Message 54

PYMNTS

JANUARY 13, 2017

12) said SWIFT will launch a proof-of-concept test to explore the use of blockchain technology for cross-border payments and settlements by banks. Now, it seems the company is taking the next step in adopting blockchain for real-world uses. An announcement Thursday (Jan.

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SWIFT Cross-Border Payments Blockchain Cross-Border 41

PYMNTS

DECEMBER 13, 2018

Separately, a number of retailers, among them giants Target and Walmart, have requested that the Federal Reserve create a real-time interbank settlement system. The Fed, of course, has been eyeing the creation of a faster payments system, and yet there may be some challenges afoot, noted The Wall Street Journal.

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Payment APIs and Integration SWIFT Interbank Settlement Faster Payments 53

PYMNTS

MAY 2, 2019

With the tool, banks can quickly resolve instances where operational, regulator or compliance information is incorrect or is missing from the payment instructions. SWIFT said the tool complements its gpi pre-validation service that identifies and eliminates errors and omissions in the payment messages before the payment is initiated.

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SWIFT Cross-Border Payments Payment APIs and Integration Cross-Border 76

PYMNTS

AUGUST 28, 2019

However, while corporate adoption of real-time B2B payments will not happen overnight, he noted that there are other factors beyond back-office upgrades that support a more painless transition. Speaking The Same (Payments) Language. This is particularly true, he said, when supporting faster payment capabilities across borders.

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ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

JULY 3, 2018

Checks will continue to be processed through the paper clearing system as well as the Image Clearing System, recently launched to support digital images of checks used for clearing and settlement. “This is our opportunity to create the future of retail payments in the U.K., economy. .’s

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Continuity ISO 20022 Message Standards Faster Payments 40

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. . Federal Reserve and TCH, Europe’s Eurosystem and EBA CLEARING and the U.K.’s

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ISO 20022 ISOs Interoperability Message Standards 58

PYMNTS

JUNE 13, 2018

The initiative, Payments Canada’s Executive Director, Modernization and CIO Jan Pilbauer said at the time, is “multifaceted, requiring a high level of engagement from players across the industry.”

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Electronic Funds Transfer (EFT) B2B Blockchain ISO 20022 43

PYMNTS

MARCH 28, 2016

and fees associated with payments using CIPS are unclear. This makes China’s international payments play a bit unconvincing to some. But payments messaging service SWIFT has been brought on by China to help strengthen CIPS’ capabilities. At present, the system does not include connections to the U.S.,

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SWIFT Cross-Border Cross-Border Payments Payments 40

PYMNTS

NOVEMBER 3, 2020

FINTAINIUM is combining its Account Receivables and Payables Management Platform with Everlink's eHUB Digital Payments Platform to support real-time B2B and B2C payments that adhere to ISO 20022 payments messaging standards. Smaller FIs Drive Real-Time Demand.

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Use Case B2B Distributed Ledger Technology (DLT) ISO 20022 56

PYMNTS

MARCH 9, 2020

Even the most convenient, feature-filled payment rails will fall flat if nobody can be convinced to try them. Such systems can offer everything from swifter settlement times to easy payment status tracking, but such benefits require widespread adoption. Proving Value.

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RTP TCH ISO 20022 Real Time Payments 81

Faster Payments Council

SEPTEMBER 12, 2022

The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs. With the number of ongoing global CBDC initiatives and the publication of the new series bulletins the panel will explore the possible impacts of CBDCs on cross-border payments.

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FPC Federal Reserve Cross-Border Payments Faster Payments 88

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

JANUARY 26, 2017

According to Finlync, connecting all of the data within an ERP via blockchain can make business processes like payments far quicker than they are today. Processing corporate payments as peer-to-peer, directly on blockchains, gives for instant settlement and, therefore, real-time reconciliation and accounting,” the company said.

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Blockchain Cross-Border Payments Cross-Border B2B 57

PYMNTS

NOVEMBER 19, 2019

Such concerns about external threats — and balancing acts focused on minimal friction — are especially urgent when it comes to faster payments, he said. As funds move across banks, from accounts to account, they can be hard to track.

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Fraud Prevention Treasury Interoperability Cross-Border 40

PYMNTS

MARCH 22, 2018

As the speed of transacting accelerates and the flow of data is enhanced as part of real-time payments, Riddle said this creates new opportunities for financial institutions to offer a more natural and intuitive experience for their customers using voice and visuals. As an example, say a customer has a bill due today.

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Credit Union Faster Payments Corporate Credit Unions Deposit Account 46

PYMNTS

MAY 5, 2016

There are a lot of non-payment messaging capabilities that we think will provide tremendous opportunity for innovation.”. He added, “When you look at the initiation of payments all the way to the end, all the elements — the clearing, the settlement, the security — it’s going to take partnerships to satisfy all those pieces.”. “We

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Faster Payments TCH Real Time Payments Payments 41

PYMNTS

AUGUST 8, 2018

Payments messaging service SWIFT has received clearance to provide access to the Eurosystem’s TARGET Instant Payment Settlement (TIPS) payment scheme, the company said Tuesday (Aug. Both schemes facilitate instant domestic payments. In an announcement on its website, SWIFT said that, beginning Nov.

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SWIFT Instant Payments Real Time Payments Settlement 40

PYMNTS

NOVEMBER 30, 2018

SWIFT , a payment messaging firm based in Belgium, began implementing its SWIFTNet Instant service for the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service on Friday (November 30), when the first banks using it went live, according to a report by the company.

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PYMNTS

DECEMBER 17, 2019

And that brings us to the world of global payment rails, the subject of a recent PYMNTS discussion featuring Karen Webster and Steve Kirsch, CEO of M10 , an affiliate company of Token.io M10 focuses on creating a digital money solution to help global banks quickly and affordably handle international transfers, settlements and remittances.

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Central Bank Global Payments Cross-Border Payment APIs and Integration 52

PYMNTS

SEPTEMBER 24, 2019

Below, PYMNTS looks at the latest news in cross-border payments innovation as industry players complete, collaborate and innovate. SWIFT gpi Links Into Real-Time Payments. Payments messaging firm SWIFT announced Monday (Sept.

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SWIFT Cross-Border Payment APIs and Integration Cross-Border Payments 73

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 CCM was developed to align with payment systems across borders that have adopted the ISO 20022 messaging standard. The Bank of England is streamlining the U.K.’s

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

PYMNTS

AUGUST 9, 2018

Payments infrastructure news tends to be global in scope, as firms and stakeholders eye efficiency and speed in transacting in new and existing markets far-flung in nature. That latter solution lets users access multiple instant payment systems across Europe via single access point, leveraging existing SWIFT infrastructure.

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Cross-Border SWIFT Blockchain Cross-Border Payments 40

PYMNTS

MAY 29, 2019

Meanwhile, the Reserve Bank of Australia and the Australian Payments Council are considering the migration of payment services to ISO 20022, which could bring them more in line with other countries’ payment messaging strategies. DBS Bank is focusing on helping merchants to get their revenues without a settlement wait.

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ISO 20022 Liquidity Management Real Time Payments Cross-Border 55

Fintech Labs Insights

OCTOBER 16, 2016

Some have picked up on the irony in SWIFT’s embrace of the blockchain; since its $6 billion payments messaging service is one of the technologies “widely perceived to be at risk for disintermediation” by blockchain technology. Interestingly, Ripple recently hired former SWIFT board member.

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EMV P2P Same Day ACH FinTech 17