PYMNTS

NOVEMBER 1, 2018

The move toward faster payments is an inexorable one. As reported earlier this month, Hong Kong’s newly debuted Faster Payments System (FPS) has seen its share of controversy, at least at the outset. The faster payments tool will allow businesses to make payments of up to €15,000 ($17,058 USD) no matter the time of day.

Real Time Payments 57

Real Time Payments Faster Payments eWallet Payments 57

Payments Source

DECEMBER 2, 2020

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

Cross-Border Payments 116

Cross-Border Payments SWIFT Cross-Border Message Standards 116

Fintech Finance

JANUARY 11, 2024

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published its latest research report, titled The Practicalities of Cross-Border Payments in a Faster Payments World.

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Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

PYMNTS

NOVEMBER 27, 2019

The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

JUNE 17, 2019

In a new partnership, Bottomline Technologies is teaming up with Starling Bank on a Real Time Payments Express Service. The offering will enable corporates and banks to send and receive as well as monitor payments to any U.K. bank account in real time, Crowdfund Insider reported. In the U.K.,

Real Time Payments 62

Real Time Payments Faster Payments Payments SWIFT 62

PYMNTS

NOVEMBER 8, 2018

Months of geopolitical spats that spanned Europe, the Middle East and the United States have seen payments infrastructure at the center of it all. SWIFT said the decision was a “regrettable” one. SWIFT, as has been widely reported, facilitates cross-border transactions tied to more than 11,000 banks around the globe.

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SWIFT Central Bank Cross-Border ATM 81

PYMNTS

AUGUST 20, 2020

New research says businesses are eager to make the leap into real-time payments (RTP) — and to embrace new payment rails in their effort. A new survey from Citizens Bank says businesses are jumping into the real-time payments opportunity. Faster Payments Council Announces Board Advisory Group.

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RTP Phixius FPC NACHA 101

PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

Faster Payments 73

Faster Payments Money Laundering Same Day ACH AML 73

PYMNTS

JULY 25, 2019

Financial players worldwide are kicking payment systems into high gear with efforts that range from easier-to-use digital solutions to new instant payment infrastructures. Roughly 40 countries had real-time payment systems in place in 2018, and many more are currently working to provide them. APIs for Businesses.

Faster Payments 64

Faster Payments API Payment APIs and Integration Cross-Border 64

Fintech Finance

NOVEMBER 8, 2024

This partnership is set to revolutionise the region’s payments landscape by enabling faster, more efficient international payments for businesses and consumers alike. The post Ecobank Partners with Nium to Unlock Real-Time Cross-Border Payments Across 35 African Markets appeared first on FF News | Fintech Finance.

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Cross-Border Payments Cross-Border ISO 20022 Payment APIs and Integration 98

PYMNTS

DECEMBER 15, 2020

In this regard, payment networks, payment rails and financial institution (FI) infrastructures can all collaborate together to adapt to emerging use cases, including the need to move data along with money. Bank Of America Wields SWIFT gpi. Scotiabank Launches Real-Time Payments For Businesses.

Innovation 94

Innovation Cross-Border Payments Cross-Border Real Time Payments 94

PYMNTS

FEBRUARY 6, 2020

APIs also allow business clients to more easily integrate banking and payments functionalities into their workflows, which can connect them to real-time payment rails for faster, data-rich transactions. Faster payments rails] existed before. Opening up to Faster Transactions.

Faster Payments 64

Faster Payments API Payment APIs and Integration B2B 64

PYMNTS

JUNE 3, 2020

“Digital disbursements and other new payment strategies and technologies are reshaping the medical and pharmaceutical industries as service providers look to ease patients’ prescription payments. Real-Time Payments Get Healthy.

Faster Payments 63

Faster Payments Payments Checks Push-to-Card 63

PYMNTS

APRIL 1, 2019

So it is with payments, where speed counts. The movement toward faster payments and peer to peer (P2P) is, well, quickening. As the Faster Payments Tracker shows, the clamor for speedier payments spans the globe. percent: Projected CAGR of the real-time payments market from 2018 to 2023.

Instant Payments 72

Instant Payments ACH Network Real Time Payments Faster Payments 72

Fintech Finance

OCTOBER 23, 2024

Finzly’s modern payment hub on the BankOS platform enables financial institutions to connect effortlessly to traditional rails like Automated Clearing House (ACH) and Fedwire, as well as modern networks such as FedNow and Real Time Payments (RTP), all with just a few clicks and independent of their core systems.

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FedNow FedWire Instant Payments RTP 97

PYMNTS

NOVEMBER 6, 2018

. Last year, only 25 real-time payment systems were operational worldwide — that number is growing rapidly. Demand is also heating up for real-time gross settlement (RTGS) systems. In the November Faster Payments Tracker , PYMNTS details the latest payments system debuts and updates.

Faster Payments 53

Faster Payments Real Time Gross Settlement (RTGS) Same Day ACH Cross-Border Payments 53

PYMNTS

OCTOBER 11, 2017

ACI Worldwide has unleashed its real-time payment solution for financial institutions (FIs). According to ACI, the solution addresses the challenges banks face when managing multiple, separate systems and schemes involving real-time payments. banks to the nation’s Faster Payments scheme.

Real Time Payments 40

Real Time Payments Real Time Gross Settlement (RTGS) Payments Payment Gateways 40

PYMNTS

MAY 1, 2017

It’s been more than a year since Bangladesh’s central bank was attacked by cybercriminals that took away $81 million by infiltrating the bank’s connection to the SWIFT network. The banks with the weakest security controls — like, apparently, the Bangladesh central bank at the time of the attack — will be hit first and hardest, he said.

SWIFT 57

SWIFT Cybersecurity Faster Payments Wire 57

PYMNTS

APRIL 29, 2019

Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. Privately-owned companies are also looking to solve the cross-border payments problem.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

SEPTEMBER 23, 2019

SWIFT announced last year that it is planning to allow its users to send data-rich ISO 20022 messages across its global network starting in November 2021. If payments are not fully enabled for ISO 20022 by the time SWIFT rolls the system out, messages might get cut off.

ISO 20022 76

ISO 20022 Federal Reserve ISOs FedWire 76

PYMNTS

DECEMBER 20, 2018

When it comes to corporate transactions (and, well, payments in general), two inexorable trends include speed and distance. SWIFT , the messaging service, said earlier this week that its SWIFT global payments innovation (gpi) service is being used for a majority — as in 55 percent — of its cross-border traffic.

Cross-Border 53

Cross-Border SWIFT Federal Reserve Fed 53

PYMNTS

NOVEMBER 8, 2017

Faster payments schemes across the globe are placing new definitions on what it means to be fast, especially as more initiatives heard towards real-time transacting. In the three years since FIS began this annual report, the number of real-time payments programs more than doubled, researchers noted.

Real Time Payments 40

Real Time Payments B2B Innovation Faster Payments 40

PYMNTS

OCTOBER 2, 2019

To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. That’s a staggering leap from the 14 live faster payment schemes that existed worldwide in 2014, when FIS first released Flavors of Fast.

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

PYMNTS

JANUARY 23, 2020

Faster and real-time payments capabilities continue to proliferate in the global financial services arena, and consumers aren’t the only beneficiaries of the trend. Corporates, too, are beginning to explore opportunities in real-time transactions in areas like payroll and intra-company payments.

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Real Time Payments Liquidity Management Treasury FedWire 96

PYMNTS

OCTOBER 5, 2017

The hype over real-time payments is strong among consumers, but for corporates, enthusiasm is a bit more muted. According to a survey of 300 treasury professionals at companies around the globe, less than half want to be able to make instant payments. Disinterest in FinTech Overall.

Real Time Payments 40

Real Time Payments Treasury Payments Cross-Border Payments 40

PYMNTS

APRIL 9, 2018

SWIFT ’s global payments initiative (gpi) service has a new bank on board. Reports on Friday (April 6) in WebIndia123 said ICICI Bank is the first in India to join and roll out the global payments service. SWIFT gpi significantly enhances this experience in cross-border payments by delivering a totally new standard.

SWIFT 54

SWIFT Cross-Border Payments Cross-Border Real Time Payments 54

PYMNTS

JUNE 27, 2019

New faster payment initiatives are popping up around the world, from Saudi Arabia to Brazil to Australia. According to the latest PYMNTS Faster Payments Tracker , Same Day ACH volume has seen a 24 percent increase year over year between the first quarter of 2018 and the first quarter of 2019. In the U.S.,

Faster Payments 40

Faster Payments Risk Real Time Payments Fraud Detection 40

PYMNTS

SEPTEMBER 24, 2020

Between the Office of the Comptroller of the Currency clearing the way for financial institutions (FIs) to embrace stablecoin, and The Clearing House's latest real-time payments (RTP) push, new payment rails continue to gain traction. FIS, The Clearing House Link For Real-Time Payments.

Office of the Comptroller of the Currency 75

Office of the Comptroller of the Currency B2B OCC SWIFT 75

PYMNTS

OCTOBER 29, 2020

The inaugural edition of the Real-Time Payments Report examines the factors influencing companies’ faster transaction and payroll needs, as well as how firms determine the solutions best suited to the demands of their particular contexts and priorities. Around The Real-Time Payments Landscape.

Faster Payments 43

Faster Payments Same Day ACH Payroll Real Time Payments 43

PYMNTS

SEPTEMBER 24, 2019

SWIFT and Microsoft have partnered with Bank of New York Mellon (BNY Mellon) to finalize the trial of Cloud Connect, a new payments solution, BNY Mellon announced in a press release on Tuesday (Sept. Cloud Connect hosts SWIFT infrastructure and enables payment transfers via Microsoft Azure.

SWIFT 47

SWIFT Treasury Cross-Border Payments Real Time Payments 47

PYMNTS

AUGUST 13, 2019

The faster payments landscape is changing rapidly, most recently with the U.S. Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow. Around the Faster Payments World. The country’s central bank announced that the rail processed 5.1

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

MARCH 17, 2020

While some geographies have opted to collaborate with the private sector to develop their own national instant payment networks, others are adopting solutions like RippleNet and SWIFT gpi to modernize their banks’ capabilities. Hungary Welcomes Instant Payments. Curacao Takes Steps Toward Instant Payments.

Instant Payments 98

Instant Payments Payment Networks Cross-Border Payments Cross-Border 98

PYMNTS

AUGUST 3, 2017

The faster payments get, the less tolerable waiting becomes for customers, businesses and other financial players. But in late July, one of the biggest waits in the payments industry came to an end. faster payments system, efforts by NACHA to standardize APIs across the industry and recent investments in blockchain solutions.

Community Banks 46

Community Banks Faster Payments NACHA Cross-Border Payments 46

PYMNTS

SEPTEMBER 15, 2020

are increasingly linking into the real-time payments infrastructure of the RTP network, according to a new survey by The Clearing House. Emirates NBD Consolidates Global Payments Infrastructure. PYMNTS examines the latest initiatives that look to improve upon existing rails, or embrace new ones like blockchain and RTP.

RTP 105

RTP Blockchain Distributed Ledger Technology (DLT) Cross-Border 105

PYMNTS

DECEMBER 31, 2020

The demand for faster payments is growing as companies look for swift, data-rich ways to transact. One study from 2019 found that 54 percent of 120 financial executives listed real-time payments as one of the most impactful emerging technologies, for example. Direct Connection Versus Third-Party Provider.

RTP 67

RTP Real Time Payments Faster Payments Third-Party Service Provider 67

Payments Source

JUNE 15, 2017

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

Instant Payments 60

Instant Payments SWIFT Payment Message Faster Payments 60

PYMNTS

SEPTEMBER 6, 2018

As the TARGET Instant Payment Settlement (TIPS) nears its launch date, major financial players are busy at work, ensuring they will be prepared to give their clients access to the service. SWIFT , for one, has received approval to connect to TIPS and will offer access through its forthcoming SWIFTNet Instant platform.

Faster Payments 40

Faster Payments Instant Payments Payments Central Bank 40