PYMNTS

NOVEMBER 27, 2019

These underlying markets sometimes dictate the speed by which a cross-border payment can travel to an end beneficiary.”. That’s where I believe it becomes an assessment for each participant in the payments chain to consider.”.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

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.

Service Provider 59

Service Provider FinTech Underserved Innovation 59

The Fintech Times

OCTOBER 26, 2024

Payment initiation and account aggregation were frequently discussed, showing their potential to impact financial services. Interestingly, it appears that although Saudi banks were initially cautious about open banking, many are now recognising it as a valuable opportunity for growth.

Embedded Finance 59

Embedded Finance Finance Payment APIs and Integration API 59

PYMNTS

SEPTEMBER 14, 2016

’s Faster Payments initiative, which traces its genesis to 2008, has seen fraud losses around online banking grow from £22.6 million in 2007 to £52.5 million in 2008 and then to £59.7 million in 2009, before new and more sophisticated security measures took effect.

Fraud Prevention 77

Fraud Prevention Faster Payments Push-to-Card Payments 77

PYMNTS

FEBRUARY 2, 2021

and Sony Innovation Fund by IGV, as well as several existing investors, is promoting the adoption of account-to-account payment functionality. Its offering uses open banking's payment initiation framework to enable PSPs, Banking-as-a-Service platforms and merchants to integrate an API for payment initiation and automation.

Lockbox 57

Lockbox FinTech Treasury Management Payment APIs and Integration 57

The Fintech Times

NOVEMBER 5, 2024

Under the new regulations, banks are now also required to allow Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs) access to account information for legal entities after securing their consent.

Accounts 64

Accounts Third-Party Service Provider Financial Inclusion API 64

PYMNTS

APRIL 22, 2019

.” They could also disrupt the way corporates are able to operate, as well as how treasurers and financial chiefs adjust to an always-on, always-available payments infrastructure. Indeed, it’s not B2B payments, but peer-to-peer (P2P) transactions that drive FIs’ investments in faster payment technologies today, said Schoch.

Faster Payments 63

Faster Payments Center for Payments Real Time Payments Payments 63

PYMNTS

AUGUST 12, 2020

.” Funding Circle reportedly considered wielding open banking in years past — and today, it’s looking at the legislation again, and evaluating how it might be able to elevate its credit assessment workflows. The business payments technology company is rolling out Pay Direct for U.K. ’s Faster Payments scheme.

Small Business 77

Small Business Push-to-Card Credit Union Payer 77

Stax

DECEMBER 20, 2023

From there, your users must go through an application and underwriting process that determines their eligibility to accept payments. TL;DR Merchant underwriting is the risk level assessment process an acquiring bank carries out on every new merchant before they grant them a merchant account. What Is Merchant Underwriting?

Underwriting 88

Underwriting Process Payment APIs and Integration Enrollments 88

Fintech Finance

AUGUST 15, 2024

The PSR continues to think that an MLA could be an efficient way of managing relationships between sending firms and payment initiation service providers (PISPs). The PSR will continue to assess the necessity and scope of mandated participation.

Regulations 52

Regulations Payments Participant API 52

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. Facebook, meanwhile, announced its forthcoming cryptocurrency, Libra , which some observers expect could be used as a global currency, thus potentially removing the need for foreign exchange.

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

NOVEMBER 7, 2016

“Tackling today’s security challenges will require the commitment of all payment system participants,” said Gordon Werkema, the Fed’s payments strategy director, in a statement last week.

Fed 77

Fed Secure Payments Task Force Security Federal Reserve 77

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. It is much lower than the applicable interchange fee.

Online Payment Processing 88

Online Payment Processing Process Payment Gateways Online and Mobile Banking 88

PYMNTS

JANUARY 31, 2019

.” The report also issued a slight warning to the industry: While faster payment innovations and technologies are progressing, solutions “tend to focus on technology more than risk,” with less attention paid to risk mitigation and legality than to speed. “As the U.S.

Faster Payments 73

Faster Payments Money Laundering Same Day ACH AML 73

M2P Fintech

MARCH 28, 2024

Credit Underwriting Credit Underwriting is the process by which a lender (such as a bank, credit union, or fintech company) assesses the creditworthiness of a borrower before granting them a loan or line of credit. DigiLocker DigiLocker is a secure digital document wallet provided by the Ministry of Electronics and IT.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

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.,

Real Time Payments 46

Real Time Payments ISO 20022 TCH ACH 46

PYMNTS

MAY 3, 2017

Faster payments initiatives will likely lead to an uptick in at least attempted fraud at FIs— and that’s hardly surprising, warns Rivka Gewirtz Little, global director of Product Marketing and Fraud at NICE Actimize. “We We do believe that there will be a greater uptick in fraud attempts.”.

Faster Payments 45

Faster Payments B2B Email Compromise Same Day ACH 45

PYMNTS

AUGUST 15, 2019

Further, if payment service providers wish to exempt corporate payments from SCA requirements, they must provide a comprehensive risk assessment and outline of risk mitigation measures to the FCA each year at least three months before the exemption can be applied.

Payments 49

Payments Commercial Card Risk Mitigation Mitigation 49

FICO

APRIL 6, 2020

For over 25 years, credit and debit card transactions have been assessed for fraud risk using AI and machine learning. The methodologies that underpin transaction risk analysis for cards can be deployed for other payment types, with the speed and volumes needed to assess real-time payments. Remove silos.

Real Time Payments 52

Real Time Payments Money Laundering Payee Payments 52

PYMNTS

FEBRUARY 21, 2018

The latest news from the country comes from its government: Chief FinTech Officer of the Monetary Authority of Singapore, Sopnendu Mohanty, said the central bank is about two years out from being able to assess the impact of its current blockchain project, Ubin.

Governance 52

Governance Government Blockchain Central Bank 52

PYMNTS

SEPTEMBER 7, 2017

According to the Fed, payments must not only be faster, they must also be safe and ubiquitous. This year is a critical one for this initiative, the Fed said, with the Fed’s Faster Payments Task Force having already issued the results of its assessment and recommendations for continued progress.

Fed 49

Fed Federal Reserve Cross-Border Payments Cross-Border 49

PYMNTS

MARCH 16, 2016

in its faster payments initiatives. Officials there are still assessing the business case of adopting ISO 20022, with the Federal Reserve Bank of New York recently telling PYMNTS that there is a struggle to convince the market of ISO 20022’s benefits. and Canada. Proponents of ISO 20022 say that the standard could help the U.S.

ISO 20022 40

ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

DECEMBER 26, 2018

By using account aggregation and payment initiation technology, banks and FinTechs alike can now offer users the ability to view their balances, make payments and receive tailored advice through their chosen channel or app, even if their actual accounts are held by another bank.

Cross-Border 51

Cross-Border Cross-Border Payments SWIFT Innovation 51

PYMNTS

NOVEMBER 5, 2019

Faster Payments Council released new research on the nation’s faster payments progress. According to the survey, industry stakeholders are prioritizing interoperability, both between various faster payment networks, and across legacy payment systems.

Faster Payments 40

Faster Payments Interoperability FedNow ACH 40

PYMNTS

JULY 20, 2016

To complicate matters further, Peterson noted that businesses procuring from overseas not only have to manage supplier risk (which includes assessing things like quality control regulations, which differ from jurisdiction to jurisdiction), but procurers have to also keep watch on its suppliers’ suppliers.

Risk 41

Risk Cross-Border Due Diligence Faster Payments 41

PYMNTS

FEBRUARY 12, 2018

The seller gets access to that money in a couple of days, maybe even quicker with new push payments and faster payments initiatives designed to accelerate the speed of settled sales to bank accounts. Previse then scores the likelihood that P&G will approve and settle that invoice.

Instant Payments 43

Instant Payments Push-to-Card Payments Credit Cards 43

Nanonets

SEPTEMBER 29, 2023

Here's how these solutions can revolutionize your payment management: Invoice Processing with OCR: Optical Character Recognition (OCR) technology allows scanning documents like invoices, receipts or bills to extract the relevant information using AI. You can read our blog to find the best OCR for your needs!

Payments 52

Payments Reconciliation Automation ACH 52

Fintech Finance

APRIL 3, 2025

ARIC is used to assess the risk of every payment initiated via online or mobile banking services. Each payment is evaluated by its technology in real time to determine whether it’s genuine.

AI 59

AI Fraud Prevention Value Added Service Phishing 59