article thumbnail

Tietoevry Banking Registration Enables it to Verify Payer and Payee Identities for European Banks

The Fintech Times

Tietoevry Banking has also partnered with Movitz Payments , enabling it to include confirmation of both payer and payee adding an extra layer of security and confirmation for banks and their customers. VoP solutions aim to reduce fraud and misdirected payments by confirming the identity of a payer or payee prior to any transaction.

Payer 59
article thumbnail

Singapore to Launch Two New e-Payment Solutions in Mid-2025 to Phase Out Cheques

Fintech News

EDP will cater to post-dated payments, deducting funds from the payer’s account upon presentment by the payee. A public consultation paper has been released , detailing the transition plan from cheques to e-payments and addressing the needs of businesses and individuals.

article thumbnail

ProjectPay’s Fintech Payments Platform to Support UK Government

Fintech Finance

The Prime Minister Sir Keir Starmer has committed to back small businesses by unlocking barriers to growth, with the government committed to addressing access to finance and payment practices. Louise Stewart, CEO ProjectPay, said, “it is encouraging to see such commitment from the UK government in addressing this long-standing issue.”

article thumbnail

Building Boom Won’t Solve Insolvency Issues: ProjectPay Urges For Cashflow Crisis to be Solved

The Fintech Times

Many in the industry are now calling for fundamental reforms and new payment models to address and prevent recurring financial misconduct and instability. Parallels to Australia In its report, ProjectPay notes that the economic impact of the UK’s building boom could be devastating for the sector if insolvency rates are not addressed.

article thumbnail

Unlocking Instant Inbound Payments: Cross River Launches Request for Payment Solution

Trade Credit & Liquidity Management

This innovation addresses a longstanding imbalance in money movement: while outbound payments have become nearly instantaneous, incoming payments have typically relied on slower methods like ACH and wire transfers, which are limited by batch processing and banking hours.

article thumbnail

Reflecting on 2024: A transformative year in payments regulation

The Payments Association

From safeguarding consumers against fraud to accelerating innovation in digital payments, regulators across the globe have introduced sweeping reforms aimed at addressing the challenges and opportunities of an increasingly digital and interconnected economy.

article thumbnail

Cross River Unveils Request-for-Payment for Real-Time Pay-Ins

The Fintech Times

The RfP capability aims to address delays in inbound payments, which often rely on traditional ACH and wire transfers. Cross River says the new feature lets businesses send secure digital payment requests, which the payer can immediately authorise and fund, helping to improve cash flow and reduce the need for pre-funded accounts.