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. Swift uses its Payment Pre-validation service to connect different Verification of Payee (VoP) schemes.

SWIFT 88

SWIFT ISO 20022 Cross-Border Cross-Border Payments 88

The Fintech Times

JUNE 11, 2025

On Monday 9 June, the Financial Conduct Authority (FCA) unveiled its ‘supercharged sandbox’, which will enable banks and fintechs to experiment safely with AI to help drive innovation. It will give payment fintechs the environment they need to experiment and scale AI-powered solutions faster.

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AI Risk Cybersecurity Innovation 45

PYMNTS

SEPTEMBER 18, 2020

It may have taken some time, but faster and real-time payments demand continues to grow in the corporate and B2B payments context. This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. EVO Payments Wields Visa Rails for Merchants. SWIFT to Launch New Real-Time Rails.

Innovation 116

Innovation Payment APIs and Integration SWIFT Real Time Payments 116

Fintech Finance

OCTOBER 17, 2024

Broadridge’s Instant Payments Service utilises the Swift Alliance Gateway Instant (AGI), which offers a highly resilient infrastructure designed specifically to support instant payments messages, connecting with SwiftNet Instant to offer 24/7 availability and continuous and efficient exchange of instant transactions.

Instant Payments 98

Instant Payments Regulations SWIFT Payments 98

Fintech Finance

OCTOBER 21, 2024

However, as the industry moves to more standardization, Nium looks to serve as a payment messaging facilitator, supporting existing messaging formats, while bridging the path to new standards. The lack of standardization, coupled with the need for tailored integrations, often limits access to new opportunities.

Real Time Payments 95

Real Time Payments SWIFT Payment Networks Cross-Border Payments 95

PYMNTS

JANUARY 26, 2021

Citi is accelerating its migration to the ISO 20022 payments messaging standard and has tapped a third-party FinTech to aid in the process. Citi Drives ISO 20022 Adoption With Volante. Banking software firm Temenos is rolling out a new product offering for FIs to help accelerate their own digitization efforts.

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ISO 20022 ISOs Payment APIs and Integration Message Standards 142

Payments Source

DECEMBER 5, 2018

Fifteen major banks will test Swift's pre-validation service for Global Payments Innovation transactions, focusing on quickly identifying and eliminating errors or omissions in payment messages.

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SWIFT Payment Message Payments Global Payments 61

PYMNTS

MARCH 21, 2017

For a few years the corporate banking space has been discussing the potential for ISO 20022 to streamline payments, with industry forces like SWIFT and SEPA promoting its adoption. But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need.

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ISO 20022 ISOs B2B Message Standards 77

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. ISO 20022’s path to ubiquity could serve as a model for faster payments technologies’ own adoption journeys.

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ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

JULY 9, 2020

There’s no single path to payments infrastructure innovation. This week’s examination of the latest initiatives to target B2B payments friction from the ground up finds a mix of strategies. For some, like Currencycloud and Steamchain, the path involves bypassing legacy payment rails and embracing blockchain.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

NOVEMBER 2, 2017

But there are some positive forces at work, too, that encourage treasurers to become progressive, innovation-embracing figures within the enterprise, said Davey. SWIFT’s payment messaging standards are similarly boosting transparency in the movement of money around the world, he said.

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Risk Innovation Treasury Treasury Management 40

PYMNTS

NOVEMBER 22, 2016

Axis’ participation in Earthport’s network is its latest effort to stay on the cutting edge of global payments and FinTech.

Cross-Border Payments 68

Cross-Border Payments Cross-Border SWIFT Payments 68

PYMNTS

OCTOBER 10, 2016

ISO 20022, which is designed to set the tone for global financial industry messages, provides a standardized approach to building messaging standards across financial services. Innovation On Old Initiatives. APIs are also another significant force in supporting innovation. The Road To Process Improvement.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

AUGUST 16, 2019

Many are choosing to implement ISO 20022 as a common messaging standard to achieve greater interoperability between payment systems, with the system seeing more than 80 implementations in over 40 markets, including with TCH’s RTP system in the U.S. innovations. and Australia’s NPP. Challenges Aren’t Universal.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

PYMNTS

AUGUST 21, 2019

.” Australia’s real-time payments service went live in early 2018 and sought collaboration from FinTech firms and developers through the launch of a developer sandbox.

Payment APIs and Integration 71

Payment APIs and Integration Real Time Payments Breach Data Breach 71

PYMNTS

OCTOBER 17, 2018

New Payments Platform (NPP) Australia , the nation’s real-time payments service that went live earlier this year, is now seeking collaboration from FinTech firms and developers through the launch of a developer sandbox. Reports in the Australian Financial Review ( AFR ) on Wednesday (Oct.

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API Payment APIs and Integration Overlay Service Real Time Payments 59

PYMNTS

SEPTEMBER 11, 2019

In June, the Chinese digital payment player Alipay and a handful of European mobile wallets announced a partnership to promote QR code payment interoperability. How Cross-Border Payments Are Made. Companies sending cross-border payments want to see where funds are in the payment process and don’t have time to manually intervene.

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Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

JULY 22, 2020

Standardization of payments messaging and enriched data, along with the immediacy of funds, has enabled real-time payments infrastructure to introduce greater value to organizations in areas like financial crime prevention and payment reconciliation. ” Driving Ubiquity.

Real Time Payments 90

Real Time Payments FedNow Payments Faster Payments 90

The Fintech Times

FEBRUARY 21, 2024

Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024. “Public-private partnerships will also rise among regulators and payment players such as banks and technology providers.

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Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

APRIL 9, 2020

Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. ” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions. Sila Raises Funding to Nix ACH.

Payment APIs and Integration 83

Payment APIs and Integration Central Bank SWIFT FinTech 83

PYMNTS

AUGUST 1, 2019

Payments messaging firm SWIFT has taken recent steps to promote interoperability of its payments network, recently announcing that it would allow blockchain platforms to loop into SWIFT’s global payments innovations (GPI) service to facilitate real-time transactions.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

The Fintech Times

OCTOBER 19, 2024

Broadridge’s Instant Payments Service utilises the Swift Alliance Gateway Instant (AGI), which offers a highly resilient infrastructure designed specifically to support instant payment messages, connecting with SwiftNet Instant to offer 24/7 availability and continuous and efficient exchange of instant transactions.

Instant Payments 52

Instant Payments SWIFT Payer Request for Payment 52

PYMNTS

FEBRUARY 7, 2018

6), highlighting both the cost of payments processing and the inefficiencies involved in the process due to a lack of transparency and data in payment messaging, especially for small businesses (SMBs). The companies released their report on Tuesday (Feb.

Process 49

Process ISO 20022 Cross-Border Payments Payment Message 49

Fintech News

DECEMBER 10, 2023

The challenge in international payments primarily revolves around ensuring data accuracy at every step of the payment chain. Edward spoke of the pivotal role of data and technology in creating and validating payment messages. In APAC, financial inclusion has emerged as a driving force behind digital innovation.

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Addressing Fraud Prevention Financial Inclusion Payments 120

PYMNTS

APRIL 24, 2019

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a payment messaging firm, has chosen Javier Pérez-Tasso as its new chief executive officer, according to a press release. Pérez-Tasso joined SWIFT in 1995, and in 2015 was appointed as chief executive for the Americas and U.K.

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SWIFT Cross-Border Payment Message Instant Payments 67

PYMNTS

JUNE 24, 2019

Payments messaging firm SWIFT will allow blockchain companies to connect into its global payments innovation (gpi) platform, SWIFT said in its latest report on the future of payments.

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SWIFT Blockchain Cross-Border Payments Cross-Border 43

PYMNTS

AUGUST 28, 2019

With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper. It can sometimes appear that the pace of FinTech innovation far outpaces corporates’ FinTech adoption. Speaking The Same (Payments) Language.

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ISO 20022 B2B Real Time Payments ISOs 52

Fintech Finance

MAY 13, 2024

The certification, which enables and supports compliance to ISO 20022 messaging standards for Fedwire, applies to four of Finastra’s payment processing solutions, facilitating increased innovation for financial institutions across the United States.

ISO 20022 52

ISO 20022 ISOs FedWire Fed 52

PYMNTS

MARCH 11, 2020

service, expected by 2024 as a national fast payments platform available to the public. Real-time payment rails can gain ubiquity once third-party developers start leveraging them for new apps and other services,” Ledford told PYMNTS.

Faster Payments 74

Faster Payments Federal Reserve FedNow RTP 74

PYMNTS

JANUARY 13, 2017

12) said SWIFT will launch a proof-of-concept test to explore the use of blockchain technology for cross-border payments and settlements by banks. SWIFT has struggled in recent months with a slew of cyberattacks , with one of the most high-profile attacks targeting the Bangladesh central bank, which uses the SWIFT payments messaging system.

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SWIFT Blockchain Cross-Border Payments Cross-Border 41

PYMNTS

JANUARY 17, 2017

Last week, Faster Payments aimed to ease the friction associated with getting financial service providers on board with the scheme. The group rolled out a resource for developers that create solutions for financial service providers and FinTech innovators to help these businesses link customer accounts to Faster Payments.

Faster Payments 43

Faster Payments ISO 8583 ISO 20022 Message Standards 43

Fintech Finance

APRIL 17, 2024

It will also provide the foundation for new payment products and services to be introduced by members and innovators leading to greater payment choice and convenience for all Canadians. The second piece is the build of the real-time clearing and settlement component.

ISO 20022 52

ISO 20022 Real Time Payments Participant Payment Message 52

PYMNTS

APRIL 6, 2016

Payments messaging firm SWIFT is looking to gain support for its global payments initiative and, most recently, announced the latest backers of the pilot program. The company said it will hope to improve the transparency and speed of global payments with the program.

Cross-Border Payments 41

Cross-Border Payments Cross-Border B2B SWIFT 41

The Fintech Times

APRIL 18, 2024

The RTR will also provide the foundation for new payment products and services to be introduced by members and innovators leading to greater payment choice and convenience for all Canadians. ” Looking to the future Jude Pinto, co-CEO (Interim) and chief delivery officer, Payments Canada.

Payments 59

Payments Real Time Payments Settlement Economy 59

PYMNTS

FEBRUARY 6, 2020

Meanwhile, the Monetary Authority of Singapore (MAS) continues to drive financial services innovation through the availability of banking licenses for FinTech firms, with a focus on exploring the opportunities for application programming interfaces (APIs) to expand the market’s Open Banking capabilities.

Payments Data 73

Payments Data Payment APIs and Integration Credit Union NACHA 73

PYMNTS

MARCH 28, 2019

The network’s technology is designed to support commercial innovation and is expected to lead to the development of a wave of products that will allow users to exchange non-payment messages, images and other value-added features.”.

TCH 49

TCH RTP Credit Union Payment Message 49

PYMNTS

MARCH 9, 2018

The tool uses ISO 20022 payments messaging standards and technologies that are part of SWIFT’s gpi (global payments innovation) initiative combined with blockchain technology to enable the recording of transactions linked to Nostro Accounts.

SWIFT 43

SWIFT ISO 20022 Blockchain Liquidity Management 43