PYMNTS

MAY 29, 2017

After an inquiry to examine the potential for blockchain to play a role in the nation’s interbank system, the Bank of Canada has ultimately decided against the technology. ” There is potential for distributed ledger technology to eventually generate cost savings through the reduction in back-office reconciliation costs, they said.

Central Bank

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

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

PYMNTS

SEPTEMBER 23, 2019

The phase 1 implementation of the ISO 20022 migration strategy that was scheduled for November 2020 is being postponed by the Federal Reserve Bank, the U.S. central bank said in a press release on Monday, Sept. The industry group prefers same-day implementation. .

ISO 20022

PYMNTS

JUNE 7, 2018

The Bank of England is streamlining the U.K.’s ’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.

ISO 20022

The Payments Association

FEBRUARY 14, 2025

Based on the European Central Bank’s revealed statistics for 2024, the total number of digital payments in the euro area in the first half of 2024 increased by 7.4% PSD3 promises tighter consumer protections and even more advanced technical standards, amplifying the push for digital transformation.

ISO 20022

PYMNTS

NOVEMBER 2, 2020

Interoperability will get a boost with messaging standards such as ISO 20022. Central banks around the world are now talking about it, discussing, looking for solutions,” he told Webster. Depending on the use case and the corporate need, he told Webster, supporting different rails makes sense.

B2B

Fintech News

AUGUST 8, 2024

The Role of Swift in the Securities Space It is important to highlight Swift’s extensive role beyond cross-border payments, noting that approximately 50% of Swift traffic is related to securities, with peaks reaching 26 million messages per day.

ISO 20022

PYMNTS

DECEMBER 21, 2018

Oakes will work with a variety of entities – governments, regulators, central banks, schemes, and retail and commercial banks. Oakes is well-versed, Mastercard said, in the development of enhanced data and capabilities for real-time payments and the implementation of the ISO 20022 XML messaging standard.

Visa

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. But Brainard added that FedNow will be “broadly accessible” to financial institutions, businesses and consumers through direct connections with more than 10,000 banks.

Fed

Fintech News

DECEMBER 10, 2023

It gathered data from C-level decisionmakers at over 500 banking and non-banking financial institutions across a variety of departments such as fraud, operations, treasury, product, and technical implementation.

FinTech

PYMNTS

JANUARY 20, 2021

European Banks Lend Less, Fearing Bad Loans During Pandemic. Euro area banks have scaled back lending in order to shield against risk, a new European Central Bank (ECB) survey says. Plus, dLocal partners with Dinie, RepSpark partners with PGA and Citi accelerates its ISO 20022 adoption.

ISO 20022

PYMNTS

JUNE 30, 2017

The European Central Bank (ECB) has announced its plans for a new instant payments and settlement system that will enable businesses and consumers to send money in real-time across 19 countries. The ECB has not ruled out switching standards as new ones are developed.

Instant Payments

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.

ISO 20022

PYMNTS

JULY 31, 2018

These range from a new software tool intended to help banks offer Real-Time Payment services, to the Federal Reserve’s proposal to adopt a messaging standard that enables easier interactions between its real-time gross settlement system and other payment systems.

Real Time Payments

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. Across the pond, meanwhile, the U.S.’s

Interoperability

PYMNTS

AUGUST 13, 2019

The country’s central bank announced that the rail processed 5.1 Improved messaging can support the faster payment sending and processing necessary for rapid cross-border transactions, and many financial services companies are assessing the potential of the ISO 20222 messaging standard to accelerate their operations.

On-Demand

PYMNTS

AUGUST 7, 2019

In the age of electronic payments, and especially the age of real time payments, said Stoddart, Mastercard sees opportunity tied to standardization of technologies and informational flows. That commonality has been furthered a bit with the introduction of PSD2. The Use Cases.

Visa

PYMNTS

MARCH 12, 2018

In searching for a payments system that leverages digital conduits, boosting speed and boosting scale, said Cooke, keep in mind that there are very few people on the planet who do not trust any central banks at all. And in fact, a lot of central banks around the world hold a lot of U.S. dollar,” said Cooke.

Faster Payments

PYMNTS

SEPTEMBER 21, 2016

The Bank of England is saying, “Calm yourself.” ” While the Bank of England has been aggressive as a central bank in terms of investigating blockchain and related technology, its officials are saying that widespread adoption is far from happening soon.

Blockchain

PYMNTS

DECEMBER 4, 2018

a Bank of England consultation about the embrace of messaging standards – specifically, ISO 20022 – has garnered support of a Common Credit Message (CCM) that looks for harmonization of messaging across interbank payment efforts. The consultation in the U.K.

Instant Payments

PYMNTS

NOVEMBER 3, 2020

FINTAINIUM is combining its Account Receivables and Payables Management Platform with Everlink's eHUB Digital Payments Platform to support real-time B2B and B2C payments that adhere to ISO 20022 payments messaging standards. and break its "monetary sovereignty.".

Use Case

PYMNTS

SEPTEMBER 18, 2017

In the document, titled “Federal Reserve Next Steps in the Payments Improvement Journey,” the central bank said that it will underpin group efforts to continue to boost faster payments in the U.S., In the FinTech arena, Bloomberg reported late last week that regulators in the U.S.

Cryptocurrency

The Payments Association

FEBRUARY 18, 2025

By investing in future-ready infrastructure, businesses position themselves for growth, improved resilience and seamless integration with emerging technologies such as central bank digital currencies (CBDCs) and blockchain-based payments.

Payment APIs and Integration

The Payments Association

APRIL 14, 2025

Related links: Financial promotion rules for cryptoassets Financial promotions data 2024 Top regulatory priorities for the payments sector Mandatory adoption of ISO 20022 for cross-border payments (final preparations Q2) The transition to ISO 20022 for cross-border payments is a fundamental shift in global financial messaging standards.

Regulations