PYMNTS

AUGUST 28, 2019

Paper checks are often pointed to as an example of how difficult it can be for corporates to change their payment behaviors. With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper. Speaking The Same (Payments) Language.

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ISO 20022 B2B Real Time Payments ISOs 52

PYMNTS

JULY 9, 2020

There’s no single path to payments infrastructure innovation. This week’s examination of the latest initiatives to target B2B payments friction from the ground up finds a mix of strategies. For some, like Currencycloud and Steamchain, the path involves bypassing legacy payment rails and embracing blockchain.

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ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

MAY 12, 2020

In the journey to improving B2B payment processes, it’s unlikely that any single solution will be the silver bullet to combating friction. In this week’s examination of payment rail innovation, PYMNTS explores the latest efforts to tackle B2B payments pain points. Deluxe Preserves The Check Workflow.

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PYMNTS

JUNE 13, 2018

PayStand , a B2B payments company powered by blockchain, is launching in Canada. A press release on Tuesday (June 12) said PayStand is introducing its Payments-as-a-Service (PaaS) solution to the Canadian market. The company’s launch in Canada is part of PayStand’s global push to digitize B2B payments, it said.

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Electronic Funds Transfer (EFT) B2B Blockchain ISO 20022 43

PYMNTS

NOVEMBER 18, 2020

The Clearing House 's RTP network is now several years old, and while the real-time payments capability is gaining traction, adoption in the B2B landscape remains muted. Indeed, it can be difficult for businesses to change their payment habits. It's not just about the speed.". What Will Drive Adoption Tomorrow?

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RTP Use Case Real Time Payments ISO 20022 82

PYMNTS

SEPTEMBER 23, 2019

Corporates have growing expectations for faster, more efficient and more secure B2B payments — whether their money is moving from one business unit to another or one country to another. Payments Speed and Security. As financial institutions gather for this year’s Sibos conference kicking off in London today (Sept.

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B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

JANUARY 17, 2017

Dubbed the Faster Payments Standards Library, the resource is a free, HTML-based standard model to ease friction in the shift towards the ISO 20022 payments messaging standard, which Faster Payments and other payment schemes across the globe have agreed is critical to global adoption of real-time, international payment capabilities.

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Faster Payments ISO 8583 ISO 20022 Message Standards 43

PYMNTS

JANUARY 24, 2019

Payments messaging company SWIFT is expanding its gpi for Corporates (g4C) initiative, adding treasury management technology company BELLIN to its roster of early adopters of the tool. In a press release issued Wednesday (Jan. In a press release issued Wednesday (Jan.

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SWIFT Treasury Management Payment Message Cross-Border 57

PYMNTS

APRIL 19, 2016

Payments technology developers and regulators are beginning to voice their support for ISO 20022, the payments messaging standard that proponents say can streamline global payments with an easier way to link data to a transaction. SWIFT has similarly taken to boosting ISO 20022’s adoption within Canada , too.

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ISO 20022 ISOs Message Standards Federal Reserve 40

PYMNTS

DECEMBER 23, 2016

The PSR is also pursuing the adoption of common payments messaging standards, like ISO 20022, for the payment service operators of Bacs and the Faster Payments Service (FPS). Both Bacs and the Faster Payments Service are critical in enhancing B2B payments across the U.K.

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ISO 20022 Message Standards Faster Payments ISOs 49

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 NPSO, which operates Faster Payments and BACS, is working with the central bank to develop a “Common U.K. 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 19, 2016

As SWIFT continues to promote the adoption of the ISO 20022 payments messaging standard across financial institutions, the company said it is zeroing in on the potential for ISO 20022 harmonization in the high-value payments space. To highlight that potential, SWIFT revealed on Thursday (Aug.

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ISO 20022 ISOs SWIFT Message Standards 40

PYMNTS

SEPTEMBER 12, 2019

The paper check continues to be a prominent — and, in many cases, dominant — payment method in B2B transactions. But a new report from the Association of Financial Professionals , underwritten by JPMorgan Chase , suggests that corporate payments appear to finally be shifting away from paper checks. On Wednesday (Sept.

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AFP Checks ISO 20022 Cross-Border 51

PYMNTS

JUNE 20, 2016

The Federal Reserve is pushing for adoption of the ISO 20022 global payments messaging standard, a move industry analysts say could streamline B2B payments, especially cross-border. Still, there is progress, Swendseid said. “The U.S. has now created a roadmap, and it’s moving forward,” she said.

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ISO 20022 ISOs Fed AFP 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. . NACHA also offers a tool to help firms send ISO 20022-approved remittances data for B2B payments. .

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ISO 20022 ISOs Interoperability Message Standards 58

PYMNTS

OCTOBER 6, 2017

The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions. The platform was built on ISO payment messaging standards, which, according to Fides CEO Andreas Lutz, are “very high and present a lot of challenges for treasury teams.”. “By

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Treasury Treasury Management Message Standards ISOs 57

PYMNTS

JANUARY 26, 2017

Cross-border payments, trade finance, smart contracts — blockchain has the potential to disrupt B2B processes, but FinTech players are only beginning to take these concepts onto a real-world stage. But there’s another reason why proponents of blockchain are so confident the technology can make waves in the payments space: security.

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Blockchain Cross-Border Payments B2B Cross-Border 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

AUGUST 1, 2019

Payments messaging firm SWIFT has taken recent steps to promote interoperability of its payments network, recently announcing that it would allow blockchain platforms to loop into SWIFT’s global payments innovations (GPI) service to facilitate real-time transactions.

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Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

FEBRUARY 7, 2018

6), highlighting both the cost of payments processing and the inefficiencies involved in the process due to a lack of transparency and data in payment messaging, especially for small businesses (SMBs). The companies released their report on Tuesday (Feb.

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Process ISO 20022 Cross-Border Payments Payment Message 49

PYMNTS

NOVEMBER 13, 2020

Data from real-time payments is another valuable proposition for SMBs and supports enhanced cash flow management as businesses have greater ability to capture transaction data and ingest it into back-office systems.

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Real Time Payments Electronic Funds Transfer (EFT) ISO 20022 Payment APIs and Integration 75

PYMNTS

AUGUST 21, 2020

In addition to open banking initiatives, efforts from both the private and public sector to improve existing payment rails, develop new ones and promote payments messaging standardization (though standards like ISO 20022) have also heightened the FinServ industry’s focus on combatting cross-border payments friction.

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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. in its faster payments initiatives. “It

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ISO 20022 ISOs Message Standards Cross-Border 40

PYMNTS

DECEMBER 4, 2018

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. The service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

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Instant Payments ISO 20022 SWIFT ISOs 50

PYMNTS

MARCH 9, 2018

The tool uses ISO 20022 payments messaging standards and technologies that are part of SWIFT’s gpi (global payments innovation) initiative combined with blockchain technology to enable the recording of transactions linked to Nostro Accounts.

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SWIFT ISO 20022 Blockchain Liquidity Management 43

PYMNTS

FEBRUARY 6, 2020

Automating the flow of payment-related data will support back-office process efficiencies, and address fraud concerns. The solution will deploy blockchain, standardized APIs from Afinis and payments messaging standard ISO 20022. Commonwealth Bank Unifies SMB Apps.

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Payments Data Payment APIs and Integration Credit Union NACHA 73

PYMNTS

JULY 3, 2018

.’s efforts to streamline its payments infrastructure and ecosystem. Last month, the NPSO launched a consultation with the Bank of England to promote the adoption of the ISO 20022 payments messaging standard across all payment schemes, including CHAPS, Faster Payments and Bacs.

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Continuity ISO 20022 Message Standards Faster Payments 40

PYMNTS

APRIL 19, 2017

According to EBA Clearing, account-servicing payment service providers across Europe will be able to use the technology for payments made in Euros starting in November of this year. Intesa Sanpaolo first partnered with Dovetail in 2012 and first offered a look into their European payments initiative a few months later.

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Real Time Payments ISO 20022 Cross-Border Payments Cross-Border 40

PYMNTS

JULY 9, 2018

Last month, the NPSO began a consolidation with the Bank of England to promote the adoption of the ISO 20022 payments messaging standard across all payment schemes. The BBC reports noted that the Faster Payments glitch is unrelated to a separate incident in the U.K.’s

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Faster Payments ISO 20022 Message Standards Payments 40

PYMNTS

MAY 31, 2018

Standardizing Payment Technology for Smarter, Safer Payments. ISO 20022 is designed as a global messaging standard that can be used by all financial standards initiatives. The tide is finally beginning to turn, however. lags behind that seen in Europe and Asia.

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ISO 20022 ISOs Interoperability NACHA 40

PYMNTS

MAY 3, 2016

Across the board, these players understand the role of faster payments initiatives throughout the globe as key to their strategy development. The worldwide adoption of the ISO 20022 payments messaging standard, too, was cited as a major facilitator of upgrades and changes in banks’ payments infrastructure and practices, researchers found.

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ISO 20022 Real Time Payments Payments Non-Bank 40

PYMNTS

NOVEMBER 2, 2017

“It enables you to track payments across borders in real time, to know where they are. SWIFT’s payment messaging standards are similarly boosting transparency in the movement of money around the world, he said. That’s definitely something that is front and center in our industry.”.

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