PYMNTS
NOVEMBER 5, 2018
Ninety-four percent of corporates surveyed by The Clearing House said remittance information included with wire transfer payments is valuable , with nearly two-thirds describing this feature as “very valuable.”
PYMNTS
OCTOBER 26, 2018
In an earlier interview with PYMNTS, Ben Peters, chief operating officer at insurance payments solutions company VPay, said a lack of remittance data may be partially to blame for ACH’s lack of ubiquity. In corporate banking and payments, the challenges that arise can be vast. But even as regulators like the Fed in the U.S.,
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PYMNTS
AUGUST 15, 2019
Federal Reserve and TCH, Europe’s Eurosystem and EBA CLEARING and the U.K.’s NACHA also offers a tool to help firms send ISO 20022-approved remittances data for B2B payments. . High-value payment systems operated by the U.S. s Bank of England are slated for ISO 20022 migration within five years.
PYMNTS
AUGUST 7, 2018
The Federal Reserve, however, is ramping up efforts to change that. Formerly known as the Remittance Coalition, the Federal Reserve Bank of Minneapolis’ Business Payments Coalition is relying on corporate collaboration to promote the adoption of electronic B2B payments.
PYMNTS
AUGUST 3, 2017
A report released by the Federal Reserve last month revealed news that checks and ACH surpassed use of credit and debit cards among business payers, while separate data from NACHA released in June found cards make up just 11 percent of all B2B payments.
PYMNTS
MARCH 16, 2016
Officials there are still assessing the business case of adopting ISO 20022, with the Federal Reserve Bank of New York recently telling PYMNTS that there is a struggle to convince the market of ISO 20022’s benefits. “It Proponents of ISO 20022 say that the standard could help the U.S. in its faster payments initiatives.
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