Fintech Finance

AUGUST 27, 2024

Mexipay will utilize ACI’s Digital Central Infrastructure solution, part of the award-winning ACI Enterprise Payments Platform, to address the need for enhanced real-time payment services. billion real-time payments were processed in Mexico in 2023, making it the 10th largest real-time payments market in the world.

Instant Payments

PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. Interoperability is a core component” of FedNow, said Montgomery.

Instant Payments

PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. Lael Brainard said the coronavirus crisis has heightened the need for instant payments.

Fed

PYMNTS

DECEMBER 4, 2018

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. Drilling down a bit from pan-European efforts in payments infrastructure to more granular ones, in the U.K., 21 of 2017.

Instant Payments

PYMNTS

NOVEMBER 10, 2020

Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world. For financial service providers, instant payments offers a chance to open up new revenue streams and develop new services for corporate clients.

B2B

Fintech News

JULY 3, 2024

The Bank for International Settlements (BIS) and its partners have revealed the comprehensive blueprint for phase three of Project Nexus, which seeks to address longstanding challenges in international money transfers by leveraging the power of domestic instant payment systems (IPS).

Cross-Border Payments

PYMNTS

JANUARY 26, 2017

If the movement toward instant payments is a work in progress, the infrastructure that is needed to put that progress in place has its own journey, too. Once live, account servicing payment services providers can work with any payments denominated in the euro that are, in turn, compliant with messaging standards (ISO 20022).

Instant Payments

PYMNTS

MARCH 19, 2020

The financial landscape is changing, moving toward instant payments, toward commerce that is always on – and for financial institutions (FIs) serving corporations and consumers across the world, the margin for error is fast disappearing.

Instant Payments

The Fintech Times

JUNE 13, 2024

Mostafa Menessy , co-founder and CTO of MENA-based fintech company, Paymob breaks down the different technological advancements and initatives that are enabling the MENA region to take such a front running position in fintech and payments development.

Instant Payments

PYMNTS

NOVEMBER 13, 2020

In Canada , one of the most popular means of instant payments is the Interac eTransfer service, which facilitates real-time movement of funds from one account to another.

Real Time Payments

PYMNTS

AUGUST 13, 2019

Around the Faster Payments World. 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.

On-Demand

PYMNTS

OCTOBER 15, 2020

There’s no doubt that when it comes to large bulk payments, said Waterhouse, ACH has strong advantages for users and processing efficiency. But the faster payment systems are showing advantages, too, he said. All of these new instant payments systems around the world are being built on the ISO 2002 standard,” said Waterhouse.

Real Time Payments

PYMNTS

NOVEMBER 18, 2020

As he told PYMNTS, the coronavirus crisis created an environment in which businesses migrated from checks to electronic payment methods out of necessity. That is par for the course for any new payment technology, he said, and it's up to financial services providers to expand education and awareness of the technology.

RTP

Open Bank Project Blog

JULY 29, 2023

The focal points of their development strategy include prioritising Instant Payments and implementing Open Banking with the aim of fostering innovative and efficient payment solutions, including mobile payments, for the nation.

ISO 20022

PYMNTS

DECEMBER 3, 2018

Javier Santamaria, chair of the EPC , provided an update to PYMNTS on the challenges both faced and still present — and what lies ahead. From initial launch to 12 months in, the number of payments services providers (PSPs) has more than tripled, and the number of countries that have signed up has more than doubled.

Instant Payments

PYMNTS

JANUARY 20, 2017

19) that its service is compliance with the European Payments Council’s (EPC) SCTInst Scheme, a instant credit transfer payment scheme, and is aligned with ISO 20022 messaging standards. EBA Clearing’s technology will enable real-time payments across the EU 24/7. The firm said Thursday (Jan.

Real Time Payments

The Fintech Times

JULY 9, 2024

More partnerships Azqore, a business and technology partner for wealth managers, has selected Volante ’s payments as a service (PaaS) to deliver SEPA instant payments and ISO 20022 messaging services to its customer base.

ISO 20022

PYMNTS

MAY 29, 2019

While these political developments insert new uncertainties and frictions into international trade, financial institutions (FIs) and service providers are working to ease some challenges in the space by promoting services for rapid cross-border transactions. Deep Dive: Real-Time Payments’ Impact on Liquidity Management.

ISO 20022

PYMNTS

AUGUST 30, 2018

Westpac Banking Corporation, Australia’s second-largest lender, told Reuters the outage did impact Australian financial institutions, but did not provide more details, while a spokesman for the Australia and New Zealand Banking Group said it knew about the outage but that services were restored and that it is now operating normally.

ISO 20022

Segpay

JUNE 13, 2024

Last year, the Federal Reserve launched FedNow, an instant payment service expected to revolutionize the US payment landscape. The Federal Reserve’s goal is to achieve wide adoption of FedNow over time, much like the Fedwire ® Funds Service and FedACH ® Services. What is FedNow?

FedNow

PYMNTS

NOVEMBER 3, 2020

In this week's roundup of payment rail innovation, PYMNTS finds B2B payments use cases serve as an important driver of adoption, with FinTechs and financial service providers embracing payment rails old and new to enable real-time B2B payments and foreign exchange. and abroad.

Use Case

Seon

JULY 27, 2023

FedNow, the instant payment service that launched in the US on July 20, 2023, could bring significant new developments to your organization. Launched on July 20, 2023, the FedNow Service is an instant payment system created by the Federal Reserve for American households and businesses. What Is FedNow?

FedNow

PYMNTS

AUGUST 28, 2018

It’s been six months since New Payments Platform (NPP) Australia went live, where a few intrepid, traditional financial institutions (FIs) and financial services providers embraced a brave new world of — among other things — instant payments. The new scheme replaces the limitation with ISO 20022 data standards.

Real Time Payments

PYMNTS

MARCH 19, 2019

Ours is swiftly becoming the age of digital payments, push payments and instant payments, done by bits and bytes rather than through the conduits of coins and bills. As noted, there are several faster and real-time payment schemes taking shape or being deployed in countries around the world.).

ISO 20022