article thumbnail

FPC 2022 Fall Member Meeting

Faster Payments Council

The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs.

FPC 88
article thumbnail

SWIFT Signals Further Openness To Blockchain?

PYMNTS

The movement to bring blockchain to cross-border payments proceeds apace. By way of background, as Forbes noted: In RFP, a biller can send an electronic request for payment. A customer can respond to that request through the use of mobile phone or laptop and make the payment as a credit push, according to Ramsey.

SWIFT 74
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FPC 2023 Fall Member Meeting

Faster Payments Council

(Foundry Ballroom) Payment networks need volume to scale and keep costs low. Few use cases have the potential for growing volumes as do commerce payments yet paying a merchant with a credit push transfer isn't easy. Thise session envisions the art of the possible for commerce use cases in the U.S.

FPC 88
article thumbnail

Breaking Down The Faster Payments Construct

PYMNTS

In other countries, however, real-time payments have traditionally only supported credit or what are sometimes referred to as “push payments.”. For instance, some are developing use cases around things like smart contracts, cross-border payments and security transactions.

article thumbnail

What’s Fast And Slow And Read All Over?

PYMNTS

In addition to providing for a settlement capability, such roles might include provision of directory services, transaction processing, network access, security and/or cross-border payments” should said stakeholders fail to agree on standards, policies and procedures. The card networks are powering instant disbursements.

Fed 47