Payments Source

SEPTEMBER 11, 2018

The Society for Worldwide Interbank Financial Telecommunication says a pre-validation system it will launch soon to catch payment message mistakes prior to dispatch should increase the number of payments reaching beneficiaries in less than 30 seconds.

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PYMNTS

DECEMBER 4, 2018

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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PYMNTS

OCTOBER 7, 2019

First Investment Bank ( Fibank ) is the first Bulgarian bank to offer the SWIFT Global Payment Initiative (gpi), according to a press release. SWIFT data shows that about 36 percent of gpi transfers reach their destination within 5 minutes. About 53 percent reach in an hour, and 96 percent reach the same day.

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PYMNTS

DECEMBER 13, 2018

. “We are committed to developing further partnerships around the world to build global, ubiquitous, real-time payments.”. Vocalink has been involved in other faster payments deployments done on a national scale. SWIFT has said it is working with 14 banks globally.

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PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has taken recent steps to promote interoperability of its payments network, recently announcing that it would allow blockchain platforms to loop into SWIFT’s global payments innovations (GPI) service to facilitate real-time transactions. Across the pond, meanwhile, the U.S.’s

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PYMNTS

AUGUST 9, 2018

Payments infrastructure news tends to be global in scope, as firms and stakeholders eye efficiency and speed in transacting in new and existing markets far-flung in nature. That latter solution lets users access multiple instant payment systems across Europe via single access point, leveraging existing SWIFT infrastructure.

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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.

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PYMNTS

MAY 23, 2018

Welcome to Five at Five, your late look at payments and commerce news you might have missed. Today’s stories focus on Facebook’s enhanced Marketplace and the latest on faster payments in Europe. SWIFT Deepens Faster Payments Presence Across Europe. Yelp Renews Antitrust Complaint Against Google.

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PYMNTS

OCTOBER 17, 2018

Russian companies are also collaborating with the nation’s central bank to develop another blockchain-powered payments messaging solution as the country prepares to stop using SWIFT ‘s interbank communication platform.

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PYMNTS

AUGUST 28, 2019

Speaking The Same (Payments) Language. One of the most prominent payment industry trends to support real-time payments adoption is the focus on ISO 20022 payment message standardization, said Cooley. This is particularly true, he said, when supporting faster payment capabilities across borders.

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ISO 20022 B2B Real Time Payments ISOs 52

PYMNTS

AUGUST 15, 2019

Deep Data For Swift, Secure Payments . ISO 20022 introduced a range of data fields that allow transactional details to be remitted along with payments. Seventy countries had adopted the standard as of May 2018, and it is expected to support 87 percent of the world’s financial transactions by 2023.

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PYMNTS

MARCH 16, 2016

When analysts from SWIFT and its ISO 20022 Registration Authority took a look at the various efforts behind adoption of the global messaging standard in 2014, a report found that while implementation projects were on their way across Europe, Russia and Africa, among the laggards were the U.S. in its faster payments initiatives.

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PYMNTS

SEPTEMBER 23, 2019

As businesses continue this shift, it is no longer safe to assume that corporates are not interested in faster payments. Indeed, 55 percent of corporate professionals say real-time payments is their top B2B payments service priority, PYMNTS and American Express note in their latest Securing B2B Payments Report.

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PYMNTS

SEPTEMBER 22, 2017

Months prior, the bank also said it joined SWIFT’s global payments innovation initiative, an effort that focuses on innovation in the cross-border payments space using the SWIFT payments messaging network with a focus on faster payments and data collection.

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PYMNTS

NOVEMBER 19, 2019

Such concerns about external threats — and balancing acts focused on minimal friction — are especially urgent when it comes to faster payments, he said. In addition, SWIFT gpi represents a significant upgrade in transparency and how banks communicate with one another, he said.

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PYMNTS

MAY 2, 2019

SWIFT is expanding its network-wide payments validation toolkit, announcing Thursday (May 2) a new “in-flight” cloud-based payment investigation and resolution service. In a press release, SWIFT said the new feature allows for dynamic query handling between banks on the SWIFT network.

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PYMNTS

SEPTEMBER 24, 2019

For today’s payment service providers, accelerating payments across borders means either developing new infrastructure, or making use of existing rails, to move money around the world. Below, PYMNTS looks at the latest news in cross-border payments innovation as industry players complete, collaborate and innovate.

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