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ACI Worldwide , which provides electronic payment and banking solutions, has added new digital overlayservices that it says will help to speed up real-timepayments, according to a press release. And, there will be flexible person-to-person (P2P) services with added layers of security authorizations.
This week’s round-up of the latest innovations in payment rails for B2Bpayments shows a key focus on real-time transactions and embrace of emerging, faster payment rails. Plus, blockchain makes new inroads in the B2B arena. Canada Taps Vocalink for Real-Time Rail.
Banks offer third-party providers APIs that can be used to develop services for mutual clients, for example, enabling FIs to offer wider arrays of solutions. The benefits of APIs for instant payments [are] huge,” said Charlotte Hausemer, vice president of innovation and product management for trade and treasury solutions at BNP Paribas.
New Payments Platform (NPP) Australia , the nation’s real-timepaymentsservice that went live earlier this year, is now seeking collaboration from FinTech firms and developers through the launch of a developer sandbox. “We see APIs as a big part of the overlayservice,” he told the publication.
Earlier this month, ACI partnered with Mastercard to expand real-time, multi-channel payment solutions worldwide. Over the summer, ACI announced that it was implementing digital overlayservices to speed up real-timepayments.
market to achieve payments interoperability between faster payment systems, with nearly half suggesting that this be achieved within four years. More than one-fifth, however, suggested that interoperability be achieved as soon as the Federal Reserve release its FedNow real-timepaymentsservice.
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