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The Journey of Payments and Clearing Systems in India

Finextra

These banks introduced formal ledger-based accounting and cheque payments. Clearing houses, often managed by the RBI or lead banks, facilitated the physical exchange and settlement of cheques. This was labor-intensive and time-consuming. This was a significant step towards non-cash payments but was slow and prone to errors.

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Unlocking the Future of Global Payments: A Deep Dive into China’s CIPS

Finextra

China’s Cross-border Interbank Payment System (CIPS) is rapidly emerging as a central artery in the internationalization of the Renminbi (RMB), offering a robust infrastructure for cross-border settlements and reshaping how global institutions engage with China’s markets. What Is CIPS and Why Does It Matter?

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ClearBank Onboards First Clients to T2 European Payments System

Fintech Finance

The fintech clearing bank welcomes OpenPayd, Pay Perform (which trades as Orbital), and Transact Payments, which will all benefit from real-time transactions in Euros. T2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem.

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Real Time Heats Up In B2B, While Blockchain Gains Traction

PYMNTS

That includes advancements in Canada's upcoming Real-Time Rail, as well as adoption by Transcard of Mastercard's Track Business Payment Service to facilitate real-time, account-to-account transfers for businesses. Canada Taps Vocalink for Real-Time Rail.

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Basware Integrates Solutions With SAP App Center

PYMNTS

Solutions such as Basware’s eInvoicing, eProcurement and accounts payable (AP) seamlessly integrate with SAP S/4HANA. The solution integrates into R3’s Corda distributed ledger platform to support interaction of the solution with existing RTGS systems.

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EU Parliament Eyes New Rules On Cross-Border Payment Fees

PYMNTS

The rules state that each transaction should disclose the amounts that are being paid in local currencies, as well as the currencies of the destination accounts. billion bank accounts and [200 million-plus] mobile money wallets in over 50 countries to receive real-time, cross-border money transfers.

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Bank of England publishes policy regarding omnibus accounts in RTGS

The Paypers

The Bank of England has published a policy regarding omnibus accounts: a new type of account available as part of the Real-Time Gross Settlement (RTGS) service.