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RTP uses ISO 20022, the international standard for financial messaging. This robust messagestandard offers multiple options for the originator to incorporate detailed remittance information with the payment. The recipient receives a payment within seconds. Besides U.S.
With its solution designed to address friction in supplier commercialcard acceptance, Nium ‘s InstaReM brand announced the expansion of BizPay into a new market: Australia. It’s a mixing of payment rails that aims to overcome one of the largest barriers to commercialcard adoption. InstaReM Expands BizPay.
Only a day earlier, payment processing giant Stripe announced an expansion of its corporate payment offerings with the launch of a commercialcard product in yet another effort by an industry stakeholder to encourage businesses to shift away from paper.
The industry push for SWIFT’s ISO 20022 adoption continues to encourage financial institutions to adopt the payments messagingstandard for more efficient transmission of transaction data, which can have particular impact for high-value cross-border B2B payments. Beyond the Payment.
” The initiative focuses on faster payments and the development of a new core clearing and settlement system, as well as adoption of the ISO 20022 payments messagingstandard.
Solutions like Visa B2B Connect are able to address both the need for ease-of-use and access to data through measures like adoption of the ISO 20022 messagingstandard, which enables seamless exchange of payment data.
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