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. For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific.

Instant Payments 75

Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

FEBRUARY 13, 2020

Behind the scenes, interbank settlements and clearing can be done quicker than before with the new digital angle. Several patents among the 84 China has filed indicate that the country is aiming to adjust the supply of digital currency in the bank based on algorithms for things like loan rates or other specific triggers.

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Interbank Settlement Digital Currency eWallet Settlement 61

The Paypers

NOVEMBER 7, 2016

(The Paypers) The Nigeria Interbank Settlement Scheme, in collaboration with Nigerian money deposit banks and four telecommunications operators, has launched a new mobile money payment solution.

Interbank Settlement 28

Interbank Settlement Payment Solutions Mobile Payments Settlement 28

Finovate

JANUARY 31, 2024

interbank settlement system compared to similar systems in Europe that were deployed sooner. The Atlantic Council says that there is an innovation gap between the U.S. and other developed nations when it comes to CBDCs. The Council also criticized the relatively slow rollout of the U.S. dollar needs to “innovate.”

CBDC 64

CBDC PayPal Cryptocurrency Interbank Settlement 64

PYMNTS

JUNE 4, 2019

The network is the first to deliver 24/7 clearing and interbank settlement, including the real-time movement of money and enriched data between participating financial institutions,” PayFi said. PayFi said its RTP network is the first new core payments infrastructure in over 40 years.

Real Time Payments 48

Real Time Payments ISO 20022 RTP Interbank Settlement 48

PYMNTS

OCTOBER 12, 2020

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function).

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Instant Payments FedNow Fed Interoperability 97

PYMNTS

DECEMBER 13, 2018

Separately, a number of retailers, among them giants Target and Walmart, have requested that the Federal Reserve create a real-time interbank settlement system. Vocalink also has been involved in the launch of The Clearing House’s RTP in the U.S., the release noted, and the real-time mobile transfer systems in Singapore and Thailand.

Payment APIs and Integration 53

Payment APIs and Integration SWIFT Interbank Settlement Faster Payments 53

Fintech News

DECEMBER 20, 2023

To complement the digital money trials, MAS said that it will commence the development of CBDC for wholesale interbank settlement in 2024. Future pilots could include the use of the “live” wholesale CBDC for the settlement of cross-border securities trade, MAS said.

FinTech 85

FinTech Cross-Border CBDC Central Bank 85

PYMNTS

FEBRUARY 4, 2019

The system would facilitate 24/7 year-round interbank settlements of faster payments and also provide a liquidity management tool to support transfers between Federal Reserve accounts. The Federal Approach. Against this backdrop, the Federal Reserve proposed creating its own real-time payments service in October 2018.

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Faster Payments Federal Reserve Real Time Payments TCH 73

PYMNTS

MARCH 2, 2016

We break down the company’s argument as presented in “ The Cost-Cutting Case for Banks: The ROI of Using Ripple and XRP for Global Interbank Settlements.” A lot of money, in fact, according to Ripple’s calculations. ” A Bit Of Background.

Cross-Border Payments 46

Cross-Border Payments Cross-Border Cross-Border Settlement Interbank Settlement 46

Fintech Labs Insights

FEBRUARY 29, 2016

” Not only does the device serve as a second factor for bitcoin transactions and interbank settlements, it also secures the movement of any assets held on the blockchain, including P2P stock trading, workflow certification for insurance management, and even process documentation for pharmaceutical clinical trials.

Phishing 14

Phishing Mitigation Interbank Settlement Blockchain 14