PYMNTS

JANUARY 17, 2017

s initiatives towards faster and real-time payments, analysts noted key requirements to join the Faster Payments scheme in particular; among one of the highest costs of joining, the report concluded, is building the technology to support real-time posting of payments. s broader faster payments efforts.

Faster Payments 43

Faster Payments ISO 8583 ISO 20022 Message Standards 43

PYMNTS

APRIL 29, 2019

Privately-owned companies are also looking to solve the cross-border payments problem. Ripple, which enables money transfers via blockchain, has been utilizing its distributed ledger technology to support cross-border payments. Smooth communications between players must be supported if payment schemes are to be interoperable.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

AUGUST 15, 2019

In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable sending and quickly processing comprehensive payment details. . More precise payment information could also facilitate quick, straight-through processing. .

ISO 20022 58

ISO 20022 ISOs Interoperability Message Standards 58

PYMNTS

AUGUST 16, 2019

The cross-border payment space is ready — and perhaps overdue — for disruption. Change is being fueled by shifting regulations and emerging digital technologies that enable faster payment capabilities. Effective cross-border payments need systems that enable them to shift away from legacy infrastructure.

Cross-Border Payments 54

Cross-Border Payments Cross-Border ISO 20022 Interoperability 54

PYMNTS

AUGUST 1, 2019

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. In its announcement , SWIFT noted that this standardization will be especially impactful for high-value corporate payments within the correspondent banking sphere.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

AUGUST 21, 2020

In addition to open banking initiatives, efforts from both the private and public sector to improve existing payment rails, develop new ones and promote payments messaging standardization (though standards like ISO 20022) have also heightened the FinServ industry’s focus on combatting cross-border payments friction.

Multi-Currency 69

Multi-Currency Cross-Border Payments Cross-Border Finance 69

PYMNTS

AUGUST 5, 2019

Combatting hard-to-predict FX rate oscillations is not the only reason businesses are clamoring for smarter recurring payment solutions, however. Many speed hurdles affect the international payments space, and cross-border transactions often take three to five business days to settle if nothing goes wrong.

Cross-Border 46

Cross-Border ISO 20022 Cross-Border Payments Payment APIs and Integration 46

PYMNTS

MARCH 12, 2018

“By definition, when you make a payment, you need to know who the other party is. Otherwise it is an illegal payment. And so we’ve got a brilliant technology [bitcoin] with a use case that just does not exist.”. That license, so to speak, does not exist with blockchain technology.

Faster Payments 44

Faster Payments Central Bank Cross-Border Payments 44

The Payments Association

APRIL 14, 2025

Related links: Financial promotion rules for cryptoassets Financial promotions data 2024 Top regulatory priorities for the payments sector Mandatory adoption of ISO 20022 for cross-border payments (final preparations Q2) The transition to ISO 20022 for cross-border payments is a fundamental shift in global financial messaging standards.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88