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In a collaboration with regional Mastercard teams, she will handle the strategic development of real-time paymentsprograms around the world. David Yates, the president of new payments platforms for Mastercard, said he’s very excited about the hire. She also worked at Vocalink, which is now part of Mastercard.
Brandli noted that new global payment standards are driving accelerated processing windows and the need to overhaul infrastructure. Although cross-border payments via Swift’s ISO20022 migration, originally set to roll out by November 2021, have now been set back a year and are expected to come by the end of 2022.
Last month, NACHA announced it was launching a new initiative to make B2B ACH payments more efficient. The Request for Paymentprogram uses the ISO20022 messaging standard to facilitate eInvoicing and receive ACH payments that correspond to that bill. percent higher than similar volume reported in 2016.
Real-time payments (RTP) is a global initiative that’s been a decade in the making and counting, one that has gained momentum over the last several years. More than 50 countries are actively pursuing, piloting or already live with real-time paymentprograms. In addition, standards are emerging.
In an interview with PYMNTS in advance of an industry webinar scheduled for March 31, SmartStream ’s Vincent Kilcoyne, executive vice president of product management, and Roland Brandli, senior vice president of paymentprograms, said the movement toward digitization means that FIs must re-examine processes and overhaul infrastructure.
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