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Mashreq , one of the leading financial institutions in the MENA region, has announced the launch of Aani InstantPayments, a new solution enabling SME businesses to collect payments from their customers instantly, securely, and seamlessly with no IBAN required.
In the architecture of the VOP scheme, the EDS enables reachability and interoperability between VOP scheme participants. The EDS wont store any personal data or IBAN, as it will only be used for routing purposes between business entities (PSPs and RVMs).
Tackling fraud CBIs response to increasing fraud and misdirection of payments is evident in a range of services, such as: Check IBAN, Name Check, CBI GO and CBI Safe Trade. This service facilitates Public Administration and corporates in fulfilling their fraud prevention activities vis--vis their customers (e.g.
Enhancing security Some of these services are the Check IBAN, Name Check CBI and CBI Safe Trade, all designed to combat frauds and deliver greater security.Moreover, these solutions are fully in line with the Sustainable Development Goals (SDGs) identified by the United Nations 2030 Agenda.
and CBI joins their IBAN-Name Check expertise at the service of their respective communities in order to offer an interoperable solution to fight against fraud. The IBAN Name Check – VoP Service, is designed to ensure that IBAN codes are correctly matched with the names of beneficiaries before payments are processed.
Developed by TRANSFOND, RoPay is an instant mobile payment initiation service that enables direct account-to-account transfers (A2A), utilizing technologies such as QR code scanning, deep links, NFC (contactless), or mobile numbers as proxies (aliases) for IBANs.
The collaboration aims to share best practices in the Open Finance and Verification of Payee landscape, with the final goal of enhancing payment service providers’ value-added offerings and overall financial market efficiency.
SEPA Instant promises faster, 24/7 payments across Europe, but with few banks ready, urgent investment is needed to meet rising demand and regulatory deadlines. Instantpayments have emerged as awidely adopted benchmark over recent years, capable of reshaping customer expectations and business operations across various sectors.
SurePay , the IBAN-name check provider, confirmation of payee (CoP) and verification of payee (VoP) to over 100 banks, has expanded its services following a strategic agreement with Swift , the messaging network, and the integration of Swift’s payment pre-validation service.
Astra Tech , the leading consumer technology holding group in the MENA region, announces its partnership with Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), for the launch of Aani —an advanced instantpayment platform.
This latest development represents major progress in the bank’s mission to build a global payments 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 global payments 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.
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