Faster Payments Council

SEPTEMBER 17, 2019

Kirstin spoke openly with our membership, addressing questions coming in from our members on topics such as ubiquity, interoperability, and industry collaboration. We were thrilled to have upwards of 100 of our members on the line to hear directly from Kirstin Wells, principal economist at the Federal Reserve Board.

FPC

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. That will include allowing banks to set various transaction limits. If all goes as planned, that is.

Fed

PYMNTS

DECEMBER 3, 2018

On the one hand,” he said, the initial uptake of the SEPA scheme shows that that “makes sense,” and that initial use cases and transaction limits (more on both in a moment) satisfy at least some demands coming from the markets. Data formats rely on ISO 20022, as the EPC has stated in the past. The Spark, Then Ignition.

Instant Payments

Segpay

JUNE 13, 2024

Interoperability: Designed to work alongside existing payment systems. Integrated Fraud Management Features: Transaction Limits and Negative Lists. Technological Standards : The EU’s adoption of standardized messaging formats like ISO 20022 for SCT Inst set a technological precedent. No ‘pass-through’ fees.

FedNow