PYMNTS

OCTOBER 17, 2018

Last year, Sberbank agreed to invest more than $500 million in the Yandex.Market eCommerce solution to develop a payment solution and introduce new features on the platform. Other B2B payment initiatives in Russia have come from Visa , which announced earlier this year that it would be expanding its corporate payment services in the country.

B2B

PYMNTS

AUGUST 13, 2019

While the Federal Reserve dives into domestic faster payments, other players have been working to accelerate money globally. Financial messaging service provider SWIFT , for one, recently tested an effort to send money instantly between countries’ real-time payment systems.

On-Demand

PYMNTS

JANUARY 4, 2019

GIRO said the new system will allow bank transfers to be done across mobile phone numbers, which should provide alternatives to 24-digit bank account numbers. Separately, UCPB , a lender based in the Philippines, has introduced a money transfer service between banks, allowing for instant fund transfers.

Instant Payments

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. These failures would have been easily spotted and prevented on blockchain.

Governance

PYMNTS

JUNE 16, 2016

The interbank messaging firm SWIFT has had a rough few months. Cyberattackers were able to steal $81 million from the Bangladesh central bank by compromising the SWIFT messaging system , forcing the company — and financial services players everywhere — to take a renewed look at payments security measures.

Security

PYMNTS

DECEMBER 19, 2019

Russia, of course, has been in the midst of developing its own payments system as a SWIFT alternative, in the wake of sanctions that were imposed by Western nations as Russia annexed Crimea. Increasing and enabling debit card payments will help Google grow in mobile payments, he said.

Mobile Payments

PYMNTS

DECEMBER 19, 2019

Russia, of course, has been in the midst of developing its own payments system as a SWIFT alternative, in the wake of sanctions that were imposed by Western nations as Russia annexed Crimea. Increasing and enabling debit card payments will help Google grow in mobile payments, he said.

Mobile Payments

M2P Fintech

MARCH 28, 2024

Both utilize the central Aadhaar data repository for their functions. Automated Clearing House (ACH) The ACH is a central system for electronic fund transfers, facilitating swift, secure, and cost-effective movement of funds between financial institutions. Unlike physical cash or bank deposits, CBDCs are purely electronic.

FinTech

Fintech Review

MARCH 5, 2025

When sending money abroad, banks often do not have direct relationships with every foreign institution. SWIFT plays a key role in this process. It does not move money but provides messaging services between banks. A UK bank sending money to the US sends a SWIFT message with payment instructions.

Cross-Border Payments