PYMNTS

SEPTEMBER 11, 2019

Businesses that use real-time payments are more competitive, as the technology is becoming the standard for global commerce. Compelled by pressure from the consumer space, domestic payment rails are being upgraded rapidly to keep pace. Last week, SWIFT launched a new API standard for the pre-authorization of funds. “In

Cross-Border Payments

PYMNTS

JUNE 16, 2020

New agile architectures and technologies must be adopted to support the latest open and global operating standards thus helping payments infrastructures to become more flexible and cost effective. The containers are uniform and standardized even though they hold a broad range of items. Two Types Of Containers.

ISO 20022

PYMNTS

AUGUST 28, 2019

The environment is also benefitting from a ‘pull’ effect, where the consumers [or] corporates are requiring this level of service from the financial institutions — and these institutions are having to meet these demands.”. This is particularly true, he said, when supporting faster payment capabilities across borders.

ISO 20022

PYMNTS

NOVEMBER 10, 2020

Real-time payments aren’t just an opportunity for consumers to send and receive money more quickly. Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world.

B2B

PYMNTS

NOVEMBER 13, 2020

But often, particularly when it comes to real-time payments, those initiatives are centered around consumer and peer-to-peer transactions. API integrations can make it easier than ever for third-party FinTech solutions to enhance their own payment capabilities. Yet the Everlink-FINTAINIUM collaboration has its sights set on the SMB landscape.

Real Time Payments

PYMNTS

NOVEMBER 19, 2020

The partnership supports Payment Canada's need for RTR to enable ISO 20022 messaging standards and remain in compliance with the Bank of Canada 's risk management standards for payment systems, an announcement revealed. Mastercard Adds A2A For Track Business Payment Service.

B2B

PYMNTS

OCTOBER 2, 2019

To get a sense of where faster payments are headed, look to the consumer. The Consumer Case, Leading To The Business Case. Yet, Kresse pointed out that, ultimately, individual consumer behavior drives changes in business behavior. So, from the beginning, start with the individual consumer.

C2B

PYMNTS

MARCH 17, 2020

To stay competitive, especially with digital startups unencumbered by legacy systems, traditional financial institutions (FIs) need to deliver seamless customer services to individual consumers and enterprise customers alike. With open APIs you can pretty much build an entire ecosystem for payments providers,” he said.

Cross-Border

PYMNTS

SEPTEMBER 12, 2019

PYMNTS research released last October in the “ Bringing Corporate Payments Out of the Dark Ages ” webinar revealed 64 percent of B2B payments are made with checks, despite consumer payments’ acceleration toward electronic tools.

AFP

PYMNTS

APRIL 11, 2018

The continued robust growth comes as no surprise as the ACH Network continues to evolve to meet the needs of financial institutions, businesses and consumers.”. percent increase in payroll and other consumer direct deposit transactions (6.5 And the network’s growth rate for last year is the highest since 2008.

ACH Network

PYMNTS

FEBRUARY 6, 2020

The Australian Competition and Consumer Commission (ACCC) has now formally released the Consumer Data Right (CDR) rules that will set the stage for Open Banking in the country, which will take effect on July 1 of this year. The solution will deploy blockchain, standardized APIs from Afinis and payments messaging standard ISO 20022.

Payments Data

PYMNTS

AUGUST 7, 2019

But the reality is that across borders many of the needs of consumers and business are the same. “We 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. We need to send money to each other,” he said.

Visa

PYMNTS

AUGUST 7, 2020

She said rapid access to funds would be useful for those living on fixed incomes or paycheck to paycheck (about 60 percent of consumers, as estimated by PYMNTS’ research). 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

PYMNTS

AUGUST 21, 2020

According to Jason Conibear , CEO of FXPress , trade volume recovery is being driven by consumers’ rising shopping needs, resulting in an elevated import-export activity. Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify.

Multi-Currency

PYMNTS

AUGUST 16, 2019

Consumers and businesses have grown accustomed to having various speedy services available on demand — they can order food, request car rides or send money all from their smartphones. As the global economy becomes increasingly interconnected, smaller businesses and consumers will need access to systems that enable easy cross-border payments.

Cross-Border Payments

PYMNTS

JUNE 13, 2018

“Today’s commercial payments infrastructure in Canada is built on many layers of outdated technology and processes that are needlessly complex and time-consuming, not to mention error-prone and labor-intensive,” said PayStand CEO and Founder Jeremy Almond in the statement.

Electronic Funds Transfer (EFT)

PYMNTS

JANUARY 17, 2017

A steep increase in the number and variety of endpoints, an expanding number of consumer devices and payment apps, the rising expectation of ‘always-on’ availability and increased levels of regulatory scrutiny have all contributed to that fact.”. That, too, is another component of payments testing that Gilde said has become more challenging.

ISO 8583

PYMNTS

MAY 6, 2019

paid using those archaic payment choices, the move to digital payments is a shared effort amid companies, processors, billers and, of course, consumers. Consumers will be able to pay bills instantly and directly from their bank accounts, and payments will settle in seconds, rather than days.

Visa

Fintech Finance

APRIL 17, 2024

By using the ISO 20022 financial messaging standard, the RTR will allow more data to travel with each payment, creating opportunities for participants to offer smarter and faster services to the end user community.”

ISO 20022

PYMNTS

NOVEMBER 3, 2020

But it's not only consumers driving demand for real time. 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.

Use Case

PYMNTS

AUGUST 31, 2017

Payment System , published in early 2015, which highlights priorities that range from payments security to the adoption of the ISO 20022 messaging standard for cross-border payments. It’s not just consumer payments that are driving this evolution, though. They have certain expectations.

Federal Reserve

PYMNTS

OCTOBER 22, 2019

Building on new initiatives to overlay legacy systems (like ISO 20022 messaging standards) can aid in those endeavors. For treasurers, innovation tied to the digitization and enhanced messaging can provide greater visibility as to where funds are (and where they’re headed) at any moment.

Cash Management

Evolve Payment

SEPTEMBER 29, 2023

As we approach 2024, businesses and consumers alike are poised to experience new trends that promise to make payments more secure, efficient, and convenient. More businesses will embrace NFC technology, and consumers will increasingly opt-in for mobile wallets like Apple Pay, Google Pay, and others.

Industry Trends

PYMNTS

AUGUST 5, 2019

Consumers worldwide appear increasingly receptive to subscription offerings, with a recent survey of those in 12 countries finding the share of adult respondents who have subscription services rose from 53 percent in 2014 to 71 percent in 2019. Other cases have seen banks explore distributed ledger technology to handle that messaging.

Cross-Border

PYMNTS

NOVEMBER 20, 2019

They also deliver more seamless experiences that consumers — and millennials in particular — have come to expect. Electronic messaging standards, such as ISO 20022, could also repair healthcare’s reconciliation issues. A Prescription For More Efficient Payouts.

Real Time Payments

PYMNTS

SEPTEMBER 7, 2017

This includes the implementation of ISO 20022 messaging standards across organizations like NACHA and SWIFT. Its role in this regard will be to support the industry as it establishes standards for end-to-end electronic B2B invoice, payments and remittance processing. Cross-Border Payments.

Fed

Fintech Finance

APRIL 30, 2025

Finastra , a global provider of financial software applications, today announced the launch of its Transformation Service, supporting the translation of MT formatted messages to the new ISO 20022 MX messaging standard, among others. Finastra has been validated as a Swift Compatible Interface and is CBPR+ ready.

ISO 20022

The Payments Association

APRIL 14, 2025

Immediate focus areas include fraud prevention, ISO 20022 readiness, and stablecoin regulationbut longer-term success depends on active engagement with consultations, operational resilience, and global alignment. Requirements apply to consumer banking services, which includes e-money and payment services. What’s next?

Regulations