The Payments Association

JANUARY 15, 2025

Swift drives global interoperability and innovation, aligning with the UK’s National Payments Vision to enhance seamless, secure payments. The UK governments preferred approach is to upgrade the UKs Faster Payments System (FPS) while assessing the longer-term requirements for the UKs retail payments infrastructure.

SWIFT 88

SWIFT ISO 20022 Cross-Border Cross-Border Payments 88

PYMNTS

NOVEMBER 27, 2019

The ISO 20022 payments messaging standard — and faster payment networks’ adoption of it — has proven to be a significant value-add to financial service providers’ faster payments offerings. The world is moving more toward standards, and ISO is one of them,” said Halpin.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

SEPTEMBER 23, 2019

The Payments Market Practice Group asked the Federal Reserve to reassess its approach to the project, which involves a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service. If payments are not fully enabled for ISO 20022 by the time SWIFT rolls the system out, messages might get cut off.

ISO 20022 76

ISO 20022 Federal Reserve ISOs FedWire 76

PYMNTS

MARCH 9, 2018

SWIFT has offered another update on its blockchain proof of concept (PoC), reiterating its potential to enrich transaction data, support real-time liquidity management and reconciliation and more. The PoC includes 34 banks, each with their own node in SWIFT’s DLT sandbox.

SWIFT 43

SWIFT ISO 20022 Blockchain Liquidity Management 43

PYMNTS

MARCH 16, 2016

When analysts from SWIFT and its ISO 20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. and Canada.

ISO 20022 40

ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

AUGUST 13, 2019

Financial messaging service provider SWIFT , for one, recently tested an effort to send money instantly between countries’ real-time payment systems. Around the Faster Payments World. While the Federal Reserve dives into domestic faster payments, other players have been working to accelerate money globally.

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

AUGUST 28, 2019

With any change in payment behavior, businesses must assess the cost of adoption and process disruption and weigh that against the cost of continuing to rely on legacy, sometimes outdated, technologies. Speaking The Same (Payments) Language. This is particularly true, he said, when supporting faster payment capabilities across borders.

ISO 20022 52

ISO 20022 B2B Real Time Payments ISOs 52