PYMNTS

NOVEMBER 12, 2018

continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. payment ecosystem, including APIs for the financial services space. As the U.K.

Payment Message

PYMNTS

AUGUST 1, 2019

In corporate payments, high-value transactions with tall demands for compliance, transparency, speed, efficiency and security aren’t just placing a burden on the businesses sending and receiving funds. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

Interoperability

PYMNTS

AUGUST 13, 2019

While the Federal Reserve dives into domestic faster payments, other players have been working to accelerate money globally. Financial messaging service provider SWIFT , for one, recently tested an effort to send money instantly between countries’ real-time payment systems. Get the full story in the Tracker.

On-Demand

PYMNTS

OCTOBER 15, 2020

Noted Kresse, “RTP and other new payment rails provide us the opportunity to carry remittance direct from system to system.” Standards, such as ISO 20022 are critical to fostering interoperability, they agreed (Scola pointed to SWIFT gpi, a standard for global payments, as an example).

Real Time Payments

Fintech Finance

JULY 19, 2024

A global payments technical issue caused The Bank of England ‘s CHAPS payment system yesterday (Thursday 18th July) to fail leaving a large proportion of time-sensitive and high-value payments delayed. The New Payments Architecture (NPA) by Pay.UK

Payments

PYMNTS

DECEMBER 4, 2018

Drilling down a bit from pan-European efforts in payments infrastructure to more granular ones, in the U.K., a Bank of England consultation about the embrace of messaging standards – specifically, ISO 20022 – has garnered support of a Common Credit Message (CCM) that looks for harmonization of messaging across interbank payment efforts.

Instant Payments

The Fintech Times

JULY 20, 2024

As global outages hit banking firms and payments worldwide, are we to be forever doomed by glitches, power outages and cyberattacks? Problems caused by another ‘glitch’ in a content update for devices running Microsoft Windows, originating from a cybersecurity service provider Crowdstrike.

Payments

PYMNTS

AUGUST 21, 2020

There are signs that the wheels are beginning to churn once again, however, and though not every industry will recover at the same pace, there is evidence that global trade is once again on the rise. Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. ”

Multi-Currency

PYMNTS

SEPTEMBER 23, 2019

The industry push for SWIFT’s ISO 20022 adoption continues to encourage financial institutions to adopt the payments messaging standard for more efficient transmission of transaction data, which can have particular impact for high-value cross-border B2B payments. Beyond the Payment.

B2B

PYMNTS

APRIL 19, 2017

According to EBA Clearing, account-servicing payment service providers across Europe will be able to use the technology for payments made in Euros starting in November of this year. The technology aims to make real-time payments across the EU available 24/7. “We

Real Time Payments

PYMNTS

SEPTEMBER 10, 2019

Today, some of the industry’s biggest players will converge in New York City at this year’s PYMNTS B2B Payments Executive Forum , with Visa as presenting sponsor. The forum is a call to action for key industry stakeholders to tackle friction in the $125 trillion-worth of global payments volume flowing between businesses around the world.

B2B

PYMNTS

SEPTEMBER 7, 2017

To move forward, the Fed said it will support a working group and other collaborative efforts to continue developing a faster payments ecosystem for the nation, and work with industry stakeholders to address gaps and requirements for real-time payments settlement.

Fed

Fintech News

JANUARY 22, 2025

The region is home to four of the top five global real-time payment markets by volume, showcasing APACs strategic measures to lead the global payments landscape. B2B payments service provider Bottomlines Competitive Banking Survey and Report 2024 highlights that 26.8% in APAC and 44% globally.

Real Time Payments

The Payments Association

APRIL 14, 2025

Understanding whats coming allows payments firms to mitigate risk, meet compliance obligations, and capitalise on strategic opportunities in a shifting regulatory environment. The payments landscape is entering a defining phase of regulatory transformation. What’s next?

Regulations