Swift to focus on transaction management to fuel faster payments
Payments Source
SEPTEMBER 17, 2020
After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.
How Swift is moving the global financial industry towards instant and frictionless payments
The Payments Association
JANUARY 15, 2025
Swift drives global interoperability and innovation, aligning with the UK’s National Payments Vision to enhance seamless, secure payments. The UKs payments landscape is at an inflexion point. The result is an improved customer experience.
SWIFT 
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Trending Sources
Swift tests faster payments for consumers, small businesses
Payments Source
OCTOBER 1, 2020
Swift is working with more than 20 banks in its network to test a service designed to help consumers and small and medium-size companies send low-value cross-border payments with the same speed and transparency benefits larger banks enjoy on Swift rails.
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Swift connects GPI to domestic faster payments rails
Payments Source
SEPTEMBER 23, 2019
Two months after a successful test to connect banks using the Global Payments Innovation service to faster payments rails in Singapore, Swift is launching a new service to connect with other domestic real-time payments systems.
SWIFT To Create New Cross-Border Real-Time Rails
PYMNTS
SEPTEMBER 17, 2020
SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. SWIFT said its platform will improve interactions between financial institutions, optimize speed and provide transparency and predictability from one account to another anywhere.
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SWIFT gpi Instant Goes Live In The UK
PYMNTS
DECEMBER 2, 2020
Belgium-headquartered payments solution provider SWIFT is introducing a new service for real-time cross-border payments and transfers called gpi Instant. He added that SWIFT’s gpi Instant targets four main issues: “speed, security, transparency and compliance.” Global payments routed to the U.K. s Faster Payments.
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Swift, Lloyds deliver real-time cross-border payments in U.K. through GPI Instant
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.
U.S. Faster Payments Council Explores the Practicalities of Cross-Border Payments in a Faster Payments World
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.
Russia Joins The Faster Payments Revolution
PYMNTS
JUNE 17, 2019
The rise of faster payment systems has become a global phenomenon. In the past few years, several global markets have invested resources into developing payment systems and infrastructure that enables funds to be delivered in real-time and that operate on a 24/7 cycle.
SWIFT Disconnects From Iran’s Banks
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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Ascendant Joins Up With SWIFT Network For Cross-Border Benefits
PYMNTS
AUGUST 12, 2020
AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. 12) press release.
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How Visa, FIS, TCH, SWIFT, Nacha and Circle See The Future of Faster, Real Time Payments Rails
PYMNTS
OCTOBER 15, 2020
Panel members included Russ Waterhouse , EVP at The Clearing House; Mike Kresse , SVP card and money movement at FIS; Jane Larimer , CEO at Nacha; David Scola , chief executive, Americas and UK at SWIFT; and Jeremy Allaire , CEO at Circle. But the faster payment systems are showing advantages, too, he said. Moving Beyond ACH .
Fighting Fraud In A Faster Payments Landscape
PYMNTS
JANUARY 31, 2019
Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S. demand for faster payment capabilities, too. the Federal Reserve’s Faster Payments Task Force published a report last April urging the nation to review the current regulatory landscape.
Seeking More: Faster Payments in the U.S. and Beyond
Faster Payments Council
FEBRUARY 6, 2022
This month, the FPC released the results of the third installment of the Faster Payments Barometer, the annual survey that gauges progress and perceptions around faster payments, use cases, trends, and challenges. And other industry participants and FPC Members are working towards real-time cross-border payments as well.
Why Faster Payments Isn’t The Answer To Accounts Receivable Delays
PYMNTS
FEBRUARY 19, 2019
With faster payments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. “We see faster payments coming into the U.S. and Europe have imposed.
Guavapay’s Transforming All Things Payments with Technology Innovation
Fintech Finance
JANUARY 16, 2025
Guavapay provides integrated financial solutions including cross-border and mass payment solutions, enabling customers to send money via SWIFT, SEPA, BACS, CHAPS and Faster Payments.
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98 Swift gateway to The Clearing House to bring faster payments to banks
Payments Source
AUGUST 15, 2017
The Society for Worldwide Interbank Financial Telecommunication (Swift) will provide U.S. banks with a gateway to The Clearing House's real-time domestic payments platform.
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Waza Launches Lync, a Multi-Currency Banking Platform With Global Payment Rails for Emerging Market Businesses
Fintech Finance
JANUARY 20, 2025
The platform offers multi-currency accounts, starting with USD, EUR, GBP, NGN and Stablecoins, with payments to more than 100 countries.
SWIFT gpi Service For Multi-Banked Corporates Goes Live
PYMNTS
JULY 17, 2019
More than 50 of the world’s largest companies have already started using a new service that enhances payment flows, allowing a single view of transactions across multi-banked corporates. SWIFT gpi for corporates solves this by creating a centralized view of multi-bank information, enabling us to track our payments all in one place.”.
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Swift's gpi can bring faster pay standards together
Payments Source
MAY 23, 2019
Targeting a 100% gpi ratio for Swift payments among banks will be crucial to enlarging the global reach of payments, writes Marc Recker, global head of institutional market management and cash management for Deutsche Bank.
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How faster payments can connect 'islands of processing' between banks
Payments Source
NOVEMBER 26, 2019
Interoperability has become a top priority in the minds of those advancing faster payments.
The Not-So-Beaten Path To B2B Payments Real-Time Ubiquity
PYMNTS
NOVEMBER 27, 2019
Further, one of the largest benefits to corporates of faster and real-time payments services is less about the speed and more about the data these networks are able to carry along with a transaction. What Faster Payments Hasn’t Solved … Yet. The world is moving more toward standards, and ISO is one of them,” said Halpin.
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117 Swift tests instant pay and settlement with European banks
Payments Source
MAY 21, 2019
Seven European banks are testing Swift's Global Payments Innovation real-time cross-border payments through the continent's Target Instant Payment Settlement process.
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76 Deep Dive: How APIs Can Help Drive Faster Payments
PYMNTS
JULY 25, 2019
In addition, they can spare tenants from fines related to late rental payments by helping them more rapidly move money into their landlords’ accounts. . Simply developing new real-time payment rails is not enough, though. Open APIs have encouraged retailers in other countries to use faster payment infrastructures, too.
Faster Payments, Real-Time Payments And A Few Glitches
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.
Healthcare Leans Into Faster Payments
PYMNTS
JUNE 3, 2020
Whether it’s the astronomical price of pharmaceuticals or the colossal cost of surgeries and hospital stays, the post-pandemic world demands faster payment options. Swift digital push payments haven’t seen much adoption across the healthcare sector, Hernandez explained in a recent interview with PYMNTS.
Six Spanish Banks Join SWIFT gpi For Cross-Border Payments
PYMNTS
MARCH 21, 2019
SWIFT announced Thursday (March 21) that six Spanish banks, representing 85 percent of the cross-border payments market in Spain, have adopted SWIFT global payments innovation or gpi. SWIFT gpi enables banks to conduct end-to-end tracking of the cross-border payment.
Why Banks — And Corporates — Still Feel The Heat From The SWIFT Hack
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. While the focus for some time had been on ACH and wire fraud, “no one had really focused a lot on the SWIFT network,” he said. “It
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For Swift, GPI delivers what Ripple can't
Payments Source
FEBRUARY 6, 2019
Swift is showing more swagger in its rivalry with Ripple thanks to progress it has made with a multifaceted payments-tracking technology called GPI.
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Swift's faster cross-border initiative gains vital fintech support
Payments Source
AUGUST 30, 2018
About half of Swift Global Payments Innovation transactions are credited within 30 minutes, many within seconds.
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TRENDING: Inside Hong Kong’s New Faster Payment System
PYMNTS
NOVEMBER 6, 2018
In the November Faster Payments Tracker , PYMNTS details the latest payments system debuts and updates. Around The Faster Payments World. The network processed $28 billion in payments during Q2 2018 and can expect that traffic to rise as it adds new participants. Faster Payments.
ACI Worldwide Extends Fintech Partnership Ecosystem to Fight APP Fraud in Europe and the UK
Fintech Finance
FEBRUARY 6, 2025
VOP enables PSPs to confirm account names and numbers prior to executing a transfer and is designed to enhance payment security across the Single Euro Payments Area and combat the growing threat of fraud, including Authorized Push Payments (APP) fraud. Additionally, Banfico is a Pay.UK-certified
Bottomline Implements NCR’s Faster Payments Network
PYMNTS
FEBRUARY 6, 2017
NCR Corporation, a global leader in omnichannel solutions, announced that Bottomline Technologies has integrated Authentic, NCR’s intelligent transaction processing platform, into its Direct Faster Payment Service (FPS) solution. based financial institutions to connect securely to the Faster Payments network.
Virtual Account Numbers Facilitate International Digital Banking
PYMNTS
DECEMBER 29, 2020
Discussing flexibility, she said businesses can get access, through virtual IBAN, to many payment types. She pointed to faster payments, SEPA, SWIFT and multicurrency payments, resulting in lower operating costs. to name just a few.
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115 gpi Makes SWIFT Cross-Border Gains
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.
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53 Swift's cross-border payments 'in seconds' is taking off
Payments Source
FEBRUARY 27, 2018
The network says more than $100 billion in Swift GPI payment messages are sent daily, enabling payments to be credited to the end beneficiaries within minutes — and some within seconds.
APIs Help FIs Keep Pace With B2B Clients’ Faster Payment Needs
PYMNTS
FEBRUARY 6, 2020
“The benefits of APIs for instant payments [are] huge,” said Charlotte Hausemer, vice president of innovation and product management for trade and treasury solutions at BNP Paribas. Faster payments rails] existed before. What we do with instant payments and APIs is offer 24/7 [access to those] services.
Businesses Are Ready To Make The RTP Leap
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. This week, the U.S.
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101 ICICI Bank Rolls Out SWIFT gpi
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.
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SWIFT gpi Used For More Than Half Of Cross-Border Traffic
PYMNTS
DECEMBER 18, 2018
SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. According to SWIFT, the SWIFT gpi service has improved the customer experience in cross-border payments by boosting speed, transparency and the traceability of payments.
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BBVA Participates In Pilot For Instant Payments In Britain
PYMNTS
OCTOBER 15, 2020
BBVA participated in an experimental payment effort to connect the SWIFT gpi with Britain’s countrywide instant payment infrastructure, and the results were shown at the Sibos conference, according to a Thursday (Oct. At the time, SWIFT indicated that the newest improvement is an additional building block for its new roadmap.
Currency Risk Management Firm Argentex Partners with French Paytech Numeral
Finovate
APRIL 17, 2025
This optimizes payment execution efficiency across multiple banking partners for Swift, SEPA, and UK Faster Payments. Second, Argentex will leverage advanced reconciliation capabilities to ensure accurate financial record-keeping and operational accuracy of both cross-border payments and associated FX trades.
NEW REPORT: Do Community Banks Need A Faster Payments Wake-Up Call?
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.
Guavapay Attributes Global Growth in 2024 to Customer-Centric Technology Innovation
The Fintech Times
JANUARY 17, 2025
Guavapay provides integrated financial solutions including cross-border and mass payment solutions, enabling customers to send money via SWIFT, SEPA, BACS, CHAPS and Faster Payments. Guavapay has formed strategic partnerships with major players to expand global payment options and strengthen its financial infrastructure.
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