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Bank Of England Plans Panel To Standardize Payments Messaging

PYMNTS

continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. payment ecosystem, including APIs for the financial services space. As the U.K.

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EBA Clearing Testing Real-Time Payments Tool

PYMNTS

EBA Clearing, set to launch its real-time payment service across Europe later this year, has officially commenced the testing phase of its technology. 19) that its service is compliance with the European Payments Council’s (EPC) SCTInst Scheme, a instant credit transfer payment scheme, and is aligned with ISO 20022 messaging standards.

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Integrated Workflows Fuel Cross-Border B2B Payments

PYMNTS

Rather than viewing payments and data as two "parallel tracks," initiatives like the ISO 20022 messaging standard have helped to fuel their coupling. As Thakur noted, the opportunity to consolidate complex systems through treasury and banking integrations is vast. Emerging Ecosystems. Corporate Priorities Ahead.

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Visa’s Phalen: Better Collaboration Will Push B2B Payments Into The Digital Age

PYMNTS

At a high level, the collaborative approach involves buyers and suppliers using tech and payment tools — and a range of choices — to make commerce and payments more bilateral. And there’s no connectivity without the networks and technology that underpin it all. Thus there’ll be no need to pivot to a single set of rails.

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Open banking marks major milestone of 10 million users

Open Banking

Open Banking Limited (OBL) announced today that there are now 10 million consumers and small businesses regularly benefiting from using open banking technology. Competition has been a key driver to growth, and we’ve observed that when one company focuses on open banking technology their direct competitors soon follow.

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Chase, AFP Applaud B2B’s Shrinking Check Use

PYMNTS

It’s a stark contrast from its historical high of 81 percent in 2004, analysts noted, and suggests checks are steadily declining within corporate payments. The AFP’s report was released the same week a range of new electronic B2B payment tools were announced, the latest in a deluge of digital payment solutions emerging in recent years.

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Blockchain Makes Headway Over Legacy X-Border Rails

PYMNTS

With its newest offering designed for legal cannabis businesses , AeroPay ‘s B2C and B2B payment tools aim to help companies in this market migrate away from manual and paper-based payment methods. The ISO 20022 payments messaging standard is a key focus for payments innovators looking to improve upon legacy payment rails.