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. ISO 20022’s path to ubiquity could serve as a model for faster payments technologies’ own adoption journeys.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

Fintech News

OCTOBER 15, 2024

With the rapid evolution of payment methods and regulations, banks must stay ahead of the curve or risk being left out of the game. The necessity for modernisation is driven by several key factors, including the migration to ISO 20022, the rise of Open Banking and the introduction of Central Bank Digital Currencies (CBDCs).

ISO 20022 113

ISO 20022 ISOs Payments Federal Reserve 113

PYMNTS

OCTOBER 15, 2020

There’s room for RTP and ACH to co-exist, said Waterhouse, “for a very, very long time.” The vision has always been a traditional currency with the liability of a central bank that could run on the public internet and underpinned by blockchain. There need to be governance models. There need to be regulatory models around it.”.

Real Time Payments 125

Real Time Payments NACHA SWIFT TCH 125

Faster Payments Council

MARCH 15, 2023

With the system joining the existing RTP system, both promising to modernize the way money moves and allow for greater use of instant payments, it seems the shift to real-time payments is 'inevitable'. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. What are your options?

FPC 88

FPC ISO 20022 Cross-Border Payments Federal Reserve 88

PYMNTS

OCTOBER 12, 2020

He said there are going to be some institutions that will want to connect with both instant payment services — FedNow and The Clearing House (TCH)’s real-time payments ( RTP ) network — in a desire to ensure resiliency and redundancy to support outages in one system to the other, if they were to occur. The Timeframe . Digital Dollars, Too? .

Instant Payments 97

Instant Payments FedNow Fed Interoperability 97

PYMNTS

AUGUST 13, 2019

The much-awaited decision dismayed large banks that regard a government-run system as unnecessary competition with their own real-time rail, The Clearing House’s Real Time Payments (RTP). The country’s central bank announced that the rail processed 5.1 Deep Dive: The Challenges and Benefits of ISO 20022 Migration.

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

AUGUST 7, 2020

The most recent details on FedNow come roughly a year after the central bank announced its plans to build and operate real-time rails. Clearing House has the RTP network. The Fed panelists said offering FedNow alongside private-sector offerings will give banks some redundancy, and thus resiliency.

Fed 75

Fed Instant Payments FedNow Interbank Settlement 75