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Three Years On, Open Banking Broadens For Business Banking

PYMNTS

Citi Drives ISO 20022 Adoption With Volante. Citi is accelerating its migration to the ISO 20022 payments messaging standard and has tapped a third-party FinTech to aid in the process. HashCash Brings Blockchain Tech To Unnamed Bank.

ISO 20022 142
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The Challenges And Benefits Of ISO 20022 Migration

PYMNTS

In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . Deep Data For Swift, Secure Payments . High-value payment systems operated by the U.S.

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Bank Of England Pulls Payment Schemes Onto Same Page With ISO 20022

PYMNTS

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

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Instant Payments Gain Ground With SEPA, SWIFT

PYMNTS

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. The service, as has been reported, lets customers make instant payments from inside the Single Euro Payments Area (also known as SEPA ).

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Merchant-facing regulation: What merchants need to know in 2025

The Payments Association

Monitor PSR publications and respond to consultations via trade bodies. Amend commercial terms to define finality, dispute resolution, and fallback payment options. This standard introduces structured, enriched data formats for payment messagesimproving interoperability, fraud detection, and reconciliation.

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UK Wants More Competition In Payments Infrastructure

PYMNTS

VocaLink isn’t facing enough competition in its role of providing the underlying infrastructure of key payment systems like Bacs, according to the U.K. Payment Systems Regulator (PSR). The consultation will close Feb. Both Bacs and the Faster Payments Service are critical in enhancing B2B payments across the U.K.

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UK Continues Payments Industry Consolidation

PYMNTS

’s efforts to streamline its payments infrastructure and ecosystem. Last month, the NPSO launched a consultation with the Bank of England to promote the adoption of the ISO 20022 payments messaging standard across all payment schemes, including CHAPS, Faster Payments and Bacs.