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0 30 July 2025 Be the first to comment Hussam Kamel Payments Architect Icon Solutions Location London Followers 0 Opinions 3 Follow Unfollow Globalpayments infrastructures have undergone a gradual but fundamental shift over the past decade: Moving away from legacy formats to adopt ISO 20022, the now de facto global standard for financial messaging.
The State of Payment Infrastructures Modern payment infrastructure systems, such as India’s Unified Payments Interface (UPI) and South Korea’s Real-TimeGrossSettlement (RTGS), are setting benchmarks by enabling real-time, cashless, and interoperable transactions.
CIPS, established under the approval of the People’s Bank of China, is a wholesale payment system dedicated to cross-border RMB transactions. This infrastructure is not just technical—it is strategic, positioning China as a pivotal player in global finance.
The Bank of England (BoE) is pushing ahead with an overhaul of a key part of the United Kingdom’s financial payments infrastructure. high-value payment system,” the central bank said in a press statement.
This latest development represents major progress in the bank’s mission to build a globalpayments platform with interoperability at its core and deliver instant, low-cost, scalable cross-border solutions across Europe. ” The CHF solution is live now, with full commercial rollout underway.
Banking Circle , the global clearing provider, has made major progress in its effort to build a globalpayments platform with interoperability at its core, as it strengthens its embedded financial infrastructure with direct access to the Swiss National Bank ‘s Swiss Interbank Clearing (SIC) system.
Related links: Financial promotion rules for cryptoassets Financial promotions data 2024 Top regulatory priorities for the payments sector Mandatory adoption of ISO 20022 for cross-border payments (final preparations Q2) The transition to ISO 20022 for cross-border payments is a fundamental shift in global financial messaging standards.
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