Remove International Payments Remove Interoperability Remove Message Standards
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RT2: A strategic transformation for UK payment providers

The Payments Association

RT2, the UK’s new Real Time Gross Settlement service, and its transformative impact on the payments ecosystem. It enhances resilience, broadens access, improves interoperability, and enables innovation, thereby modernising the UK’s financial infrastructure. Why is it important? What’s next?

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How Swift is moving the global financial industry towards instant and frictionless payments

The Payments Association

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
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Successful Migration of the Kenya Electronic Payment and Settlement System to the ISO20022 Global Messaging Standard

Fintech Finance

The Central Bank of Kenya (CBK) announces that the Kenya Electronic Payment and Settlement System (KEPSS) has been successfully migrated to the ISO20022 Global Messaging Standard (“ISO20022 Standard”). It is the backbone of Kenya’s domestic and regional payment transactions.

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Deep Dive: Making Instant Payment Schemes Universal And Interoperable

PYMNTS

An interoperable cross-border solution could remove these frictions and provide smooth transfers between two real-time payment systems, while a single, globally accessible faster payments service could offer swift end-to-end transfers. Current Efforts . and Australia’s NPP. Mixed Demand and ISO 20022. Disharmony.

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Smarter Payments Tracker Eyes Interoperability

PYMNTS

In the latest Smarter Payments Tracker , PYMNTS takes a deep dive into the challenge of interoperability in achieving better cross-border payments services and experiences. International payments often contain unstructured and ambiguous transaction data, causing unnecessary delays and failed processing.

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Finastra Facilitates Connection of Swiss Banks in Readiness for New SIC Instant Payments Service

Fintech Finance

It is based on the ISO 20022 messaging standard which Switzerland has been using for several years. The standard helps facilitate interoperability and cross-border transactions, also giving Swiss banks the opportunity to implement international payment capabilities in the future.

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SWIFT Readies ISO 20022 For X-Border Payments

PYMNTS

Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. ISO 20022 will modernize international and domestic payment rails, enabling right and new payment services.”